ASX 200 report:
9 April 2026

The Australia 200 trades 2 points (0.03%) higher at 8955 as of 3.25pm AEDT.

ASX 200 steadies after strong rally as sector rotation continues

The ASX 200 has spent today in consolidation mode, taking a well earned breather after the local bourse surged 372 points (4.3%) across the first two sessions of the week. The bulk of those gains came yesterday, following President Trump’s announcement of a two week ceasefire with Iran, which averted an imminent deadline for potential strikes on the country’s bridges and energy infrastructure.

However, following the initial wave of relief, there is mounting interest in the actual details of the deal, crucially for markets, around the reopening of the Strait of Hormuz. Even though President Trump has stated that passage is ‘totally clear’, there has been little visible shipping activity over the past 24 hours.

This lack of clarity has dashed hopes that crude oil would extend yesterday’s downside move. Instead, oil prices have edged back up, rising around 1% to US$97.45 and creeping towards the psychologically important US$100 mark, naturally taking energy stocks along for the ride.

ASX 200 stocks

Energy sector

• Woodside Energy lifted 3.96% to $33.32
• Karoon Energy rose 3.83% to $1.96
• Ampol added 3.50% to $33.25
• Viva Energy climbed 2.9% to $2.48.

Financials sector

Helping to offset some of these sector losses, the heavyweight financials sector rallied, supported by strong performances from the regional banks.

• Bendigo Bank jumped 9% to $11.40 after reporting unaudited cash earnings that rose 7.6% on the first half quarterly average to $173.9 million, with its net interest margin rising 6 basis points (bp). The bank also announced a restructuring and outsourcing round, which may result in up to 1000 job losses across information technology (IT) and business operations
• Bank of Queensland lifted 2.42% to $7.39
• National Australia Bank gained 1.71% to $45.28
• Westpac Banking Corporation climbed 1.07% to $42.41
• Both Commonwealth Bank of Australia and ANZ Group edged around 0.6% higher.

Materials sector

The major iron ore miners also gave back a good chunk of yesterday’s gains as iron ore futures in Singapore fell 2.62% to $103.

• Fortescue slipped 1.38% to $20.76
• Rio Tinto fell 0.88% to $172.11
• BHP Group edged 0.36% lower to $54.33.

Uranium stocks also weakened:

• Bannerman Energy dropped 5.5% to $3.79
• Silex Systems fell 4.77% to $5.59
• Deep Yellow declined 3.71% to $1.81.

Technology sector

The rebound in crude oil prices has weighed heavily on the ASX 200 technology sector, which has given back almost all of yesterday’s impressive 7.31% gain.

• WiseTech Global fell 10% to $39, erasing its entire prior day advance
• Zip lost 9.40% to $1.81
• Xero dropped 8.28% to $73.64.

ASX 200 technical analysis

From the 9202.9 record high struck in late February, the ASX 200 fell 940 points, or a neat 10.20%, to the 8262 low on 23 March, where signs of capitulation were noted.

This week’s barnstorming rally has increased confidence that a medium term low is in place at 8262 and that the uptrend has resumed.

Dips should be well supported back towards the 200 day moving average at 8776 by buyers who missed this week’s melt up.

ASX 200 daily candlestick chart

• _{Source: TradingView. The figures stated are as of 9 April 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.}