Tuesday 31st March 2026
Daily Market Update: 31 March 2026
Australian market weakness
The S&P/ASX 200 Index (ASX: XJO) closed lower as the worsening conflict in the Middle East lifted oil prices and drove investors away from banking and technology shares. The benchmark dropped 55.30 points, or 0.7 per cent, to 8,461 after falling as much as 1.6 per cent earlier in the session, with seven of the 11 sectors ending lower. Sentiment deteriorated as investors weighed the risk of a broader regional conflict, rising inflation pressure and the prospect that higher energy prices could keep interest rates elevated for longer.
Australian sector movers
The sell-off was led by the major banks, with ANZ Group Holdings Limited (ASX: ANZ), National Australia Bank Limited (ASX: NAB), Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corporation (ASX: WBC) all retreating sharply. Technology names also weakened, with Xero Limited (ASX: XRO), WiseTech Global Limited (ASX: WTC) and TechnologyOne Limited (ASX: TNE) coming under pressure. Offsetting some of the decline were gains in energy and resources, as Santos Limited (ASX: STO), Beach Energy Limited (ASX: BPT), Whitehaven Coal Limited (ASX: WHC), Woodside Energy Group Ltd (ASX: WDS), Viva Energy Group Limited (ASX: VEA), Ampol Limited (ASX: ALD), Alcoa Corporation (ASX: AAI), South32 Limited (ASX: S32) and Rio Tinto Limited (ASX: RIO) advanced on stronger commodity prices and supply concerns. In company-specific moves, Greatland Resources Limited (ASX: GGP) rallied after upgrading its Telfer gold resource, AMP Limited (ASX: AMP) gained after announcing a $150 million share buyback, and Webjet Limited (ASX: WEB) rose following news of management changes that may revive takeover speculation.
Global market update
In the United States, trading was volatile as falling Treasury yields and dovish comments from Federal Reserve Chair Jerome Powell were not enough to support a broad equity rally. The Dow Jones Industrial Average (INDEXDJX: .DJI) edged 0.1 per cent higher, while the S&P 500 Index (INDEXSP: .INX) slipped 0.4 per cent and the Nasdaq Composite Index (NASDAQINDEX: .IXIC) fell 0.8 per cent. Semiconductor stocks led the declines, while investors rotated toward energy and utilities as oil prices surged on continuing threats to Red Sea exports and Iranian infrastructure, keeping the CBOE Volatility Index (INDEXCBOE: VIX) elevated despite resilient corporate earnings.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.7 | 1.1 | -7.5 | -1.9 | 11.4 |
| Financials | -2.7 | -0.2 | -2.9 | 2.4 | 17.7 |
| Resources | 2.5 | 5.8 | -11.6 | 8.8 | 44.3 |
| Information Technology | -2.6 | -5.3 | -10.6 | -26.6 | -24.7 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | -0.4 | -1.8 | -5.1 | -10.0 | 3.6 |
| Europe | -1.3 | 0.9 | -6.4 | -7.0 | 4.9 |
| Japan | -2.1 | 5.2 | -5.7 | 1.0 | 15.7 |
| China top 50 | -0.6 | 3.7 | -1.3 | -11.2 | -7.9 |
| India top 50 | -1.4 | 1.9 | -8.0 | -17.1 | -20.4 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.3 | 0.4 | -1.9 | -0.8 | 0.4 |
| Australian Corporate Bond | 0.2 | 0.5 | -1.9 | -0.8 | 1.0 |
| US Treasury | -1.4 | 0.2 | -2.0 | -0.7 | 2.3 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 3.9 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 2.1 | 2.4 | -13.2 | 0.2 | 30.3 |
| Silver | 1.4 | 2.4 | -26.6 | -12.0 | 79.2 |
| Crude Oil | 7.9 | 13.2 | 44.0 | 78.6 | 59.9 |
| Bitcoin | -1.0 | -1.9 | 0.3 | -26.0 | -27.0 |
