S&P/ASX closes lower: Australian shares struggle for momentum as Iran rejects US ceasefire plan amid Middle East conflict; check top gainers and losers

Australian shares struggled for momentum on Thursday (March 26, 2026), as the ASX 200 has closed slightly down after Iran's foreign minister said the country would not negotiate with the United States on a ceasefire plan. Iran on Wednesday (March 25, 2026) dismissed an American plan to pause the war in the Middle East, issuing its own counterproposal instead. According to Reuters, the losses in heavyweight miners and gold stocks countered gains in financials.

The S&P/ASX 200 closed lower Thursday, dropping 8.60 points or 0.10% to 8,525.70. The bottom-performing stocks in this index were NICKEL INDUSTRIES LIMITED and MEGAPORT LIMITED, down 8.47% and 7.68%, respectively. Over the last five days, the index has gained 0.33% but is down 2.16% year to date.

S&P / ASX 200: Top gainers and losers

The S&P/ASX 200 recorded notable movements across both gains and declines. Among the top gainers, ORI / ORICA LIMITED closed at 20.600, up 1.070 (5.478%). DRO / DRONESHIELD LIMITED rose to 4.480, gaining 0.220 (5.164%), while IFT / INFRATIL LIMITED. climbed to 9.600, up 0.360 (3.896%). KAR / KAROON ENERGY LTD increased to 1.980, advancing 0.070 (3.664%), and GNC / GRAINCORP LIMITED finished at 6.400, up 0.170 (2.728%).

On the downside, NIC / NICKEL INDUSTRIES LIMITED fell to 0.865, down -0.080 (-8.466%). MP1 / MEGAPORT LIMITED dropped to 7.330, declining -0.610 (-7.683%), while RSG / RESOLUTE MINING LIMITED slipped to 1.265, down -0.080 (-5.948%). TWE / TREASURY WINE ESTATES LIMITED eased to 3.370, losing -0.170 (-4.803%), and SLX / SILEX SYSTEMS LIMITED declined to 5.290, down -0.260 (-4.685%).