S&P/ASX 200 falls ahead of rate decision meeting as Middle East hostilities keep investors cautious; check top gainers and losers

Australian Share Market: The S&P/ASX 200 closed lower as Australian shares fell on Monday (March 16, 2026) with weaker commodity prices weighing on miners as investors turned cautious ahead of an ‌expected central bank ⁠rate ⁠hike later in the week and ongoing Middle East tensions.

The broader index dropped 33.70 points or 0.39% to 8,583.40 on Monday, according to the ASX website. The bottom-performing stocks in this index were IPERIONX LIMITED and DEEP YELLOW LIMITED, down 22.24% and 11.25%, respectively. Over the last five days, the index is virtually unchanged but is down 1.50% for the last year to date.

Trading was thin as Gulf hostilities stretched into a third week, with investors focused on risks to Middle East oil facilities despite US calls to safeguard the Strait of Hormuz, a key global oil route.


While most central banks are expected to hold rates steady amid geopolitical uncertainty, Australia ⁠stands out ‌ahead of Tuesday's meeting, with 23 of 30 economists tipping a quarter-point rate hike.

Rate-sensitive financials rose 0.4%, with sub-index heavyweight Commonwealth Bank of ⁠Australia adding 1% to its highest level in over two weeks. Energy stocks finished 0.5% higher, extending gains for a fourth straight session.

S&P/ASX 200: Top gainers and losers

On the S&P/ASX 200, several stocks recorded notable gains during the session. Reliance Worldwide Corporation Limited (RWC) led the top performers, closing at $3.120, up $0.200, or 6.849 per cent. It was followed by Karoon Energy Ltd (KAR), which finished at $1.925, rising $0.085, or 4.619 per cent.

Other gainers included AMP Limited (AMP), which ended the day at $1.220, up $0.050, or 4.273 per cent, and Challenger Limited (CGF), closing at $7.680, an increase of $0.300, or 4.065 per cent. Meanwhile, Digico Infrastructure REIT (DGT) also advanced, finishing at $1.885, up $0.070, or 3.856 per cent.

On the downside, several stocks recorded sharp declines. IperionX Limited (IPX) saw the steepest fall, dropping to $4.090, down $1.170 or 22.244 per cent. Deep Yellow Limited (DYL) also retreated, closing at $1.775, a decline of $0.225, or 11.250 per cent.

Further losses were recorded by Silex Systems Limited (SLX), which ended at $5.230, down $0.590 or 10.138 per cent, and Regis Resources Limited (RRL), which fell to $7.040, a decrease of $0.640 or 8.334 per cent. Bellevue Gold Limited (BGL) also declined, finishing at $1.520, down $0.120, or 7.318 per cent.