S&P/ASX 200 ends day in positive: Australian stocks rebound as miners gain, RBA hikes cash rate as expected; check top gainers-losers and how different sectors performed

Australia Sharemarket News: After starting the week on a negative note, Australian shares rebounded ⁠from a three-week low on Tuesday (February 3, 2026), with the S&P/ASX 200 index ending 0.89% higher at 8,857.10 points. According to the ASX website, the benchmark on Tuesday saw its best session since mid-November, ‌after finishing at its lowest since January 12 the previous day.

According to Reuters, the rebound was driven by gold and base metal miners, with investors firmly pricing in the beginning of a tightening cycle following a widely anticipated quarter-point interest rate hike.

The S&P/ASX 200 crossed its 125-day moving average. The top-performing stocks in this index were DRONESHIELD LIMITED and NEWMONT CORPORATION, up 7.83% and 5.64%, respectively. The index has lost 0.95% for the last five days but sits 2.83% below its 52-week high.


Gold miners jumped

Gold miners jumped 2% as bullion rebounded following a sharp selloff on Monday triggered by Kevin Warsh's nomination as the next Federal Reserve chair and higher margin requirements at CME Group. Top miners Northern Star Resources and Evolution Mining gained 1% and 4%, respectively.

That pushed the broader ‌resources sub-index ‍1.6% higher, with BHP Group and Rio Tinto adding ‍up to 2%.

RBA raises cash rate

Meanwhile, the benchmark slid a few points ‌after the Reserve Bank of Australia raised the cash rate but clawed back most losses by session-end.

Faster-than-expected economic growth and a sticky inflation outlook prompted investors to ramp up their May hike bets to 80%. Markets expect an additional total tightening of 40 basis points this year, Reuters reported.

S&P/ASX 200: Top gainers-losers and top-performing sectors

The S&P/ASX 200 recorded notable gains among several stocks, led by DroneShield Limited (DRO). The company last traded at $3.720, rising by $0.270, or 7.826 per cent. Newmont Corporation (NEM) also posted a strong advance, with its shares climbing $8.790, or 5.636 per cent, to close at $164.750. Capstone Copper Corp. (CSC) finished higher at $16.730 after gaining $0.810, representing an increase of 5.087 per cent. NRW Holdings Limited (NWH) added $0.250, or 4.835 per cent, to end the session at $5.420, while Evolution Mining Limited (EVN) rose by $0.580, or 4.178 per cent, to a last price of $14.460.

On the downside, Neuren Pharmaceuticals Limited (NEU) recorded the steepest decline, falling by $1.620, or 9.970 per cent, to close at $14.630. Ventia Services Group Limited (VNT) slipped $0.250, or 4.311 per cent, to $5.550. GrainCorp Limited (GNC) ended lower at $5.970 after shedding $0.220, a decline of 3.555 per cent. DigiCo Infrastructure REIT (DGT) dropped $0.070, or 2.735 per cent, to $2.490, while Telix Pharmaceuticals Limited (TLX) fell by $0.270, or 2.577 per cent, to finish at $10.210.

Top-performing sectors

According to the ASX website, 10 of 11 sectors ended higher along with the S&P/ASX 200 Index. Information Technology was the best-performing sector, gaining +1.89% and rebounding from its recent decline. This sector is off -5.70% for the past five days.

Interest-rate-sensitive banking stocks trimmed gains marginally to end 0.8% higher, with the "Big Four" banks adding between 0.1% and 1.1%, as reported by Reuters. Real estate and consumer discretionary added 1% and 1.1%, respectively. Technology stocks rose 1.9%.