Friday 27th March 2026
Daily Market Update: 27 March 2026
ASX edges lower as Middle East uncertainty tempers risk appetite
The S&P/ASX 200 Index (ASX: XJO) edged lower by 8.60 points to 8,525.70, retreating 0.1 per cent after a strong rebound in the prior session, as uncertainty surrounding US-Iran negotiations weighed on sentiment. Market direction remained tightly linked to developments in the Middle East, with investors balancing hopes for de-escalation against ongoing geopolitical risks and potential supply chain disruptions. Despite broader weakness, energy stocks provided support amid elevated oil prices, as Brent crude hovered above US$104 per barrel.
Energy and defence stocks rally while tech and gold miners decline
Energy names led gains, with Santos Limited (ASX: STO) rising 2.5 per cent, Karoon Energy Limited (ASX: KAR) up 3.7 per cent, and Woodside Energy Group Limited (ASX: WDS) advancing 2.3 per cent following operational progress in the US. Defence-linked drone stocks also rallied, including DroneShield Limited (ASX: DRO) up 5.2 per cent and Electro Optic Systems Holdings Limited (ASX: EOS) gaining 4.7 per cent. Banking stocks were mixed, with Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corporation (ASX: WBC) posting modest gains, while Australia and New Zealand Banking Group Limited (ASX: ANZ) and National Australia Bank Limited (ASX: NAB) declined. Gold miners weakened, including Newmont Corporation (ASX: NEM), Genesis Minerals Limited (ASX: GMD), and Resolute Mining Limited (ASX: RSG), while technology stocks such as WiseTech Global Limited (ASX: WTC) and Xero Limited (ASX: XRO) faced renewed selling pressure. Among corporate updates, Infratil Limited (ASX: IFT) lifted on upgraded guidance, Nufarm Limited (ASX: NUF) surged on a partnership with BP, while AMP Limited (ASX: AMP) and Airtasker Limited (ASX: ART) saw modest movements following company-specific news.
Wall Street slides as oil spike and geopolitical tensions fuel stagflation fears
US equities fell sharply, with the S&P 500 Index (INDEXSP: INX) dropping 1.7 per cent, the Nasdaq-100 Index (NASDAQ: NDX) tumbling 2.3 per cent, and the Dow Jones Industrial Average (INDEXDJX: DJIA) down 1 per cent. Losses were driven by a surge in oil prices, with Brent crude jumping 5 per cent above US$108 per barrel, alongside rising Treasury yields and escalating geopolitical tensions following warnings from President Donald Trump to Iran. Technology stocks led the decline, with Meta Platforms, Inc. (NASDAQ: META) plunging 7.9 per cent, while semiconductor names including Micron Technology, Inc. (NASDAQ: MU), Advanced Micro Devices, Inc. (NASDAQ: AMD), and NVIDIA Corporation (NASDAQ: NVDA) posted steep losses, alongside Alphabet Inc. (NASDAQ: GOOGL). In contrast, Clear Secure, Inc. (NYSE: YOU) gained on increased airport demand, while energy giants Exxon Mobil Corporation (NYSE: XOM) and ConocoPhillips (NYSE: COP) rose in line with higher crude prices.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.1 | -1.2 | -5.8 | -1.5 | 10.2 |
| Financials | 0.0 | -3.4 | -6.0 | 1.2 | 15.7 |
| Resources | -0.6 | -3.7 | -10.5 | 4.0 | 36.2 |
| Information Technology | -1.2 | -1.9 | -2.3 | -23.1 | -26.4 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | -1.7 | 0.6 | -3.6 | -8.6 | 5.1 |
| Europe | 0.0 | -0.9 | -8.3 | -6.5 | 4.8 |
| Japan | -0.9 | -2.5 | -7.2 | -1.7 | 10.3 |
| China top 50 | 0.2 | -2.6 | -4.9 | -10.7 | -9.0 |
| India top 50 | 0.1 | -2.7 | -9.2 | -16.9 | -18.4 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.3 | -0.3 | -1.0 | -0.4 | 1.3 |
| Australian Corporate Bond | 0.0 | -0.3 | -1.1 | -0.4 | 1.9 |
| US Treasury | 0.0 | -0.8 | -1.5 | -0.3 | 3.0 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 3.9 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -1.0 | -7.9 | -13.2 | -5.2 | 32.1 |
| Silver | -2.5 | -9.6 | -21.3 | -6.7 | 86.7 |
| Crude Oil | 3.9 | -3.3 | 45.3 | 64.4 | 52.1 |
| Bitcoin | -0.4 | 0.7 | 7.2 | -21.6 | -26.4 |
