Markets Score 35 Bearish

ASX 200 Slips as Financials and Tech Drag Australian Equities Lower

Apr 28, 2026 03:23 UTC

BHP, RIO, CBA, NAB, WBC, ANZ, SQ

Immediate term

The S&P/ASX 200 index declined on Friday, driven by losses in the banking and technology sectors. Gains in major mining and gold stocks provided a partial buffer against broader market weakness.

S&P/ASX 200 dropped 0.61% to 8,278.80
Big four banks saw losses between 1% and 2%
Rio Tinto and BHP gained nearly 2% and 1% respectively
Tech sector weakness led by Block and WiseTech
AUD trading at $0.620

The Australian equity market extended its downward trend during mid-market trading on Friday, with the benchmark S&P/ASX 200 falling below the 8,300 level. The index dropped 50.40 points, or 0.61%, to trade at 8,278.80, after an initial opening in positive territory. The decline comes amid mixed signals from European markets and a lack of clear direction from Wall Street overnight. The broader All Ordinaries Index mirrored this sentiment, sliding 48.80 points, or 0.57%, to settle at 8,529.00. Financials faced significant pressure, with Westpac dropping more than 2%, while Commonwealth Bank and National Australia Bank both fell nearly 2%. The technology sector also struggled, led by Block and WiseTech Global, both of which declined approximately 1%. Conversely, mining and gold stocks offered a silver lining. Rio Tinto surged nearly 2% and BHP Group gained almost 1%. Gold miners also trended higher, with Newmont and Evolution Mining both posting gains of 1% or more. Energy stocks remained largely subdued, with Woodside and Santos edging lower. In the currency markets, the Australian dollar was quoted at $0.620.