ASX 200 report:
24 March 2026

The Australia 200 trades 26 points (0.31%) higher at 8392 as of 3.30pm AEDT.

ASX 200 stabilises after three‑day slide as commodities recover

The ASX 200 is on track to snap a morale‑sapping three‑day losing streak that dragged it to a 10‑month low, buoyed by a relief rally on Wall Street after President Trump announced a five‑day delay on potential United States (US) strikes against Iran’s energy infrastructure.

While Trump’s announcement has defused the immediate 48‑hour ‘time bomb’ ultimatum, the clock has simply been reset for Friday.

That is the same day the 2200 Marines of the 31st Marine Expeditionary Unit, along with the USS Tripoli and USS New Orleans, are expected to arrive in the Gulf region. This realisation, combined with fresh reports of US and Israeli strikes on energy‑related buildings in Iran’s Isfahan region, triggered a 3% bounce in crude oil to $91.53 and saw the ASX 200 give back a sizeable portion of its early 139‑point gains, pulling back from a three‑day high of 8504.60.

Looking ahead, the situation in the Middle East will remain the dominant driver for asset prices, particularly whether the Strait of Hormuz can be reopened before more lasting economic damage is done.

Consumer confidence slump shifts rate expectations

The combination of the overnight de‑escalation (which helped push crude oil lower) and a dire ANZ Roy Morgan consumer confidence reading – which fell 5.4 points to its lowest level since 1973 – also played a key role today.

The slump in confidence, likely driven by surging fuel prices and the Reserve Bank of Australia’s (RBA) back‑to‑back interest rate hikes, has prompted the rates market to shave around 25 basis points (bp) off expected RBA hikes by year‑end, taking the implied terminal rate from 5% down to 4.75%.

ASX 200 stocks

Financial sector

The prospect of weaker consumer confidence and one fewer RBA rate hike before year‑end has weighed on the major banks.

• NAB dropped 3.11% to $43.35
• CBA lost 1.15% to $172.23
• Westpac dipped 0.82% to $40.02
• ANZ bucked the trend.

Gold stocks

After diving 9% yesterday to a low of $4099, gold has since stabilised and is trading at $4348. This has drawn support back into gold‑mining stocks:

• Genesis Minerals jumping 7.10% to $5.73,
• Evolution Mining rising 3.61% to $11.92 and
• Newmont adding 4.59% to $137.74.

Materials sector

The ASX 200 materials sector, which at yesterday’s low had fallen a gut‑wrenching 24% from its early March high, took the half‑full view today. Gains were led by a rebound in the major iron ore miners as the iron ore price lifted to $108.35.

• Mineral Resources jumped 5.20% to $53.25
• Fortescue added 3.20% to $19.66
• BHP climbed 3.14% to $48.59
• Rio Tinto rose 2.58% to $148.13.

Real estate sector

The shift in rate outlook has helped property stocks rally:

• Vicinity Centres up 1.28% to $2.38,
• Goodman Group gaining 1.20% to $25.32 and
• GPT Group adding 0.66% to $4.55.

ASX 200 technical analysis

At yesterday’s 8262 low, the ASX 200 had fallen 940 points, or a neat 10.20%, from the 9202.9 record high it reached in late February. The rebound into yesterday’s close showed signs of capitulation, and those signs have strengthened today following the rebound on Wall Street.

While this is a positive development, the ASX 200 must reclaim the 200‑day moving average, currently at 8776.3, on a sustained basis to increase confidence that a medium‑term low is in place at the 8262 level and that the uptrend has resumed. Until then, a retest and potential break of the 8262 low remains possible.

ASX 200 daily candlestick chart

• _{Source: TradingView. The figures stated are as of 24 March 2026. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.}