Daily Market Update: 06 March 2026

Australian market rebound

The S&P/ASX 200 Index (ASX: XJO) rebounded 39.10 points, or 0.4 per cent, to 8940.50 as bargain hunters returned to equities following strong US economic data that maintained expectations of potential interest rate cuts. The recovery followed a sharp global sell-off that erased about $63 billion from the local market, triggered by fears that a prolonged conflict in Iran could keep oil prices elevated and reignite inflation. Brent crude climbed a further 3.1 per cent to $US83.90 a barrel, adding to volatility across global markets.

Sector movers and stock highlights

Rate-sensitive technology stocks led gains with WiseTech Global Limited (ASX: WTC) rising 7.1 per cent to $47.57 and Xero Limited (ASX: XRO) gaining 4.3 per cent to $83.89. Defensive healthcare stocks also advanced, with CSL Limited (ASX: CSL) up 2.5 per cent to $146.49 after its vaccine business Seqirus secured a contract to supply 15 million pandemic flu vaccines to Canada, while Pro Medicus Limited (ASX: PME) rose 4.6 per cent to $121.49. Energy stocks extended their five-day rally to 8 per cent as refiners surged, led by Viva Energy Group Limited (ASX: VEA) jumping 11.9 per cent and Ampol Limited (ASX: ALD) climbing 8.5 per cent after reports China ordered refiners to suspend fuel exports. Meanwhile Woodside Energy Group Limited (ASX: WDS) slipped 1 per cent while trading ex-dividend. In mining, BHP Group Limited (ASX: BHP) fell 1 per cent after trading ex-dividend, while Fortescue Limited (ASX: FMG) gained 2.1 per cent and Rio Tinto Limited (ASX: RIO) rose 1.2 per cent as iron ore briefly dropped below $US100 a tonne. Gold miners weakened with Genesis Minerals Limited (ASX: GMD) down 4.2 per cent and Northern Star Resources Limited (ASX: NST) losing 1.9 per cent. DroneShield Limited (ASX: DRO) rebounded 10.1 per cent following heavy selling earlier in the week.

Corporate updates and global backdrop

In corporate news, Pengana Capital Group Limited (ASX: PCG) rose 3.5 per cent to 74.5 cents after appointing Antipodes to assist with managing its international equities listed investment company. The Lottery Corporation Limited (ASX: TLC) slipped 0.7 per cent to $5.36 as it announced a new operating model creating three customer-facing business units and reshaping its executive team. Deep Yellow Limited (ASX: DYL) declined 2.4 per cent to $2.46 after resuming trading and denying reports it planned a capital raising. Star Entertainment Group Limited (ASX: SGR) finished flat at 12 cents after the Federal Court ruled the Australian Securities and Investments Commission failed to prove its case against most of the company’s directors, although an adverse finding was made against former chief executive Matt Bekier. Globally, stronger US economic data, including private payrolls and the ISM Services Index, helped calm markets and supported expectations that the US Federal Reserve could still deliver rate cuts later this year.