Australia's equity market closed modestly higher on Tuesday as sector gains in Metals & Mining, Materials and Resources supported a positive finish for the S&P/ASX 200. At the close in Sydney, the benchmark index had risen 0.24%.
Top movers
The session's largest riser on the S&ASX 200 was Pro Medicus Ltd (ASX:PME), which climbed 7.69% or 8.99 points to finish at 125.96. Consumer electronics retailer JB Hi-Fi Ltd (ASX:JBH) gained 8.13% or 6.70 points to close at 89.10, while A2 Milk Company Ltd (ASX:A2M) advanced 6.26% or 0.57 points to end the day at 9.67.
Biggest decliners
At the other end of the board, Reliance Worldwide Corporation Ltd (ASX:RWC) fell 9.09% or 0.35 points to trade at 3.50 at the close. Lynas Rare Earths Ltd (ASX:LYC) dropped 5.15% or 0.82 points to 15.11, and Contact Energy Ltd (ASX:CEN) declined 4.69% or 0.39 points to 7.92.
Market breadth and notable levels
Declining issues outnumbered advancing ones on the Sydney exchange, with 665 stocks down versus 495 that advanced, while 411 finished unchanged. Shares of Reliance Worldwide Corporation fell to 52-week lows, losing 9.09% or 0.35 to 3.50. Conversely, A2 Milk Company reached three-year highs, rising 6.26% or 0.57 to 9.67.
Volatility, commodities and currencies
The S&P/ASX 200 VIX, a gauge of implied volatility for S&P/ASX 200 options, eased 4.24% to 12.40.
In commodities, Gold Futures for April delivery fell 2.24% or 112.45 to $4,902.05 a troy ounce. Crude oil for April delivery slipped 0.47% or 0.30 to $63.26 a barrel, while the April Brent contract was down 0.57% or 0.39 to $68.26 a barrel.
On the currency front, AUD/USD was reported as unchanged 0.14% to 0.71, while AUD/JPY declined 0.55% to 107.98. The US Dollar Index Futures moved up 0.04% to 97.02.
Outlook
The market closed with a modest gain in the benchmark despite a larger number of decliners, driven by outsized moves in a handful of stocks and sector-level support from metals and materials names. Volatility as measured by the ASX VIX fell, while key commodity prices and currency pairs saw mixed movement during the session.