ASX 200 Live: Australian Market Update – March 2nd

March 2, 2026 Priya Shah – Business Editor Business

The S&P/ASX 200 edged lower in early trading on Monday, falling 0.7% to 9,136.60 points, according to MarketScreener Deutschland. The dip follows a historic week for the Australian share market, which concluded on Friday with the S&P/ASX 200 rising 23.3 points, up 0.25 percent to 9,198.6, and a 3.7 percent gain for February. This marked its best close on record. Friday’s broader All Ordinaries index also achieved a record close, gaining 26.9 points, or 0.29 percent, to 9,435.6. The local bourse has been bolstered by strong earnings and a global shift in investor preferences, moving away from technology stocks towards commodities, according to AMP chief economist Shane Oliver. The materials sector led gains on Friday, increasing by one percent and achieving an 8.7 percent rise in February, marking eight consecutive months of growth and reaching record highs. Gold stocks also saw improvement despite a stable session for the precious metal, which remained around $5,916 ($A7,286) an ounce. BHP Group Ltd, a major iron ore and copper producer, continued to set all-time highs throughout the week, closing at $58.41. Meanwhile, the financial sector demonstrated an impressive 8 percent increase. However, consumer staples experienced a decline following a disappointing first-half earnings report from Coles. Lynas Rare Earths announced on Monday the renewal of its Malaysian operating licence for ten years, providing long-term operational certainty for investors. Ampol updated investors regarding the Australian Competition and Consumer Commission’s (ACCC) narrowed focus on its proposed acquisition of EG Australia. The S&P/ASX 200 index, a market-capitalisation weighted index of stocks listed on the Australian Securities Exchange, comprises the 200 largest listed companies, representing approximately 82% of Australia’s share market capitalisation. The index is maintained by Standard & Poor’s and was established on March 31, 2000, with a value of 3133.3, equivalent to the All Ordinaries value at that time. Quarterly rebalances occur in March, June, September, and December to ensure companies meet eligibility criteria. The index is heavily weighted towards the Financials and Materials sectors, with the Financials sector alone accounting for nearly a third of the index, including major banks like Commonwealth Bank of Australia.