Market Overview - The S&P/ASX 200 closed lower, dropping 89.30 points or 1.00% to 8,851.00, crossing below its 50-day moving average [1][5] - The index has lost 3.78% over the last five days and is 3.82% below its 52-week high [1][2] Impact of Geopolitical Events - The benchmark has slumped 3.8% since the weekend due to the United States and Israel's military actions in Iran, erasing about half of its gains for February [2][5] - Approximately A$130 billion (US$91.4 billion) in market value has been wiped from Australia's share market this week due to investor concerns amid the Middle East conflict [5] Top Gainers - SiteMinder Limited led the top performers, with shares closing at A$3.550, up A$0.410 or 13.057% [3][5] - WiseTech Global Limited recorded a strong rise, ending at A$52.720, a gain of A$5.150 or 10.826% [3][5] - Other notable gainers include DroneShield Limited, Catapult Sports Ltd, and Magellan Financial Group Limited, with respective gains of 10.000%, 9.615%, and 9.271% [5] Bottom Performers - Deep Yellow Limited fell to A$2.170, down A$0.290 or 11.789% [5] - Catalyst Metals Limited dropped to A$7.040, losing A$0.900 or 11.335% [5] - Other declining stocks include Sandfire Resources Limited, Westgold Resources Limited, and Northern Star Resources Ltd, with declines of 9.577%, 8.172%, and 8.107% respectively [5]
Australian stocks lose $91 billion in a week as Middle East war weighs, ASX 200 falls 3.8%, erasing half of February gains; check top gainers and losers
The Economic Times·2026-03-06 07:22