Australian equities ended the trading day slightly in the red on Tuesday, with the S&P/ASX 200 finishing down 0.04% at the Sydney close. Sector weakness in information technology, consumer discretionary and A-REITs was cited as the primary drag on the benchmark.
Among the top performers on the S&P/ASX 200, Liontown Resources Ltd (LTR) led gains, rising 9.28% or 0.16 points to close at 1.83. Iluka Resources Ltd (ILU) advanced 8.68% or 0.46 points to finish at 5.76, while Pls Group Ltd (PLS) climbed 7.89% or 0.35 points to end the session at 4.72.
On the downside, ARB Corporation Ltd (ARB) recorded the steepest decline, falling 12.62% or 3.10 points to close at 21.47. Austal Ltd (ASB) dropped 12.48% or 0.70 points to finish at 4.91, and Megaport Ltd (MP1) fell 7.29% or 0.58 to end at 7.38.
Market breadth was negative on the Sydney exchange, with decliners outnumbering advancers by 678 to 484. A further 353 stocks finished unchanged. The session included notable downside moves: ARB fell to five-year lows while Megaport slid to 52-week lows.
Volatility as measured by the S&P/ASX 200 VIX eased, slipping 2.33% to 12.36 by the close.
Commodity markets presented a mixed picture. Gold futures for April delivery fell 0.72% or 37.61 to trade at 5,187.99 a troy ounce. Energy contracts were firmer: crude oil for April delivery rose 0.62% or 0.41 to reach 66.72 a barrel, and the May Brent contract added 0.58% or 0.41 to trade at 71.52 a barrel.
In foreign exchange, the Australian dollar was largely unchanged against the U.S. dollar, with AUD/USD moving 0.07% to 0.71. AUD/JPY strengthened by 0.48% to 109.61. The U.S. Dollar Index Futures showed a modest increase, up 0.20% at 97.83.
Summary: The local benchmark closed slightly lower as losses in technology, consumer discretionary and A-REIT stocks offset gains in a handful of resource and services names. Market volatility decreased and commodities diverged, with oil higher and gold lower.