Mid-Market: S&P/ASX 200 Trading Lower; Dragged Down By Big Banking Stocks

Source: Kapitales Research

On 06 January 2026, at AEDT 11:45 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 39.20 points or 0.45%, and is currently trading at 8,689.40 levels. Out of 11, 9 sectors are trading lower along with the decline in the S&P/ASX 200.

The Materials and Energy sectors are the top 2 gaining sectors, gaining 1.37% and 0.10% in their index values. On the other hand, Consumer Staples and Financials sectors are the top 2 declining sectors, declining 0.80% and 0.58% in their index values.

Bluescope Steel Ltd (ASX: BSL) and Droneshield Limited (ASX: DRO) are the top-gaining stocks, gaining 20.961% and 6.948% in their stock prices. On the other hand, Silex Systems Limited (ASX: SLX) and Temple & Webster Group Ltd (ASX: TPW) are the top-losing stocks and are declining by 29.231% and 2.315% in their stock prices.

Factors influencing the market-

• The Australian share market turned negative after a sell-off in the major banks, despite initially following a rally on Wall Street, which was driven by the Dow Jones reaching an all-time high.
• The materials sector is trading in green zone, rising by 1.37% after copper surged to $13,000 per tonne for the first time. This continued the strong rally from last year, driven by concerns over supply shortages due to mine disruptions and trade disruptions affecting the crucial industrial metal.
• SGH Limited’s shares jumped 4% after confirming its joint bid with Nasdaq-listed Steel Dynamics to acquire and restructure BlueScope Steel, Australia's largest steelmaker. As a result, BlueScope's stock soared by 20%.
• Monadelphous inched up 0.5% after securing a $175 million construction contract with BHP for the mining giant's car dumper project at Finucane Island in Port Hedland, Western Australia.
• Gold remained steady as traders focused on upcoming US economic data, overlooking tensions in Venezuela. Bullion held near $4,450 an ounce, after rising 2.7% the previous day following the capture of former Venezuelan leader Nicolás Maduro. Uncertainty looms over Venezuela's governance amid President Trump's statement about the US plans for the country.
• The Dow Jones closed up by 1.23%, S&P 500 gained by 0.64% and Nasdaq was up by 0.69% in the previous session.
• Hang Seng is up by 0.03%, and FTSE 100 is up by 0.54%.

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