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Highlights:
Australian share market lifted as inflation data aligned with central bank expectations
Gains recorded across financial, healthcare, and consumer discretionary sectors
ASX 200 rose with support from major banks, CSL, Wesfarmers, and tech stocks
The Australian share market posted broad-based gains, driven by fresh optimism around monetary easing and supportive inflation data. Strength in financials, consumer-related firms, and healthcare helped lift the index across the trading session.
Major banks contributed significantly to the momentum, with key institutions in the green by the session's end. Commonwealth Bank (ASX:CBA), Westpac (ASX:WBC), National Australia Bank (ASX:NAB), and ANZ Group (ASX:ANZ) all closed higher, boosting the overall financial sector.
Healthcare stocks also finished firmly positive. CSL Limited (ASX:CSL) led the segment, followed by movements in Pro Medicus (ASX:PME) and Cochlear (ASX:COH), as the sector responded to stabilised macroeconomic indicators.
Consumer Discretionary and Technology Sectors Rally
The consumer discretionary sector experienced a lift, supported by names such as Wesfarmers (ASX:WES), which advanced amid general market strength. Gaming entities Aristocrat Leisure (ASX:ALL) and The Lottery Corporation (ASX:TLC) also registered gains, reinforcing momentum in consumer-focused shares.
Technology-related stocks gained ground, contributing to the broader index movement. The information technology sector led the percentage-based advances among industry groups, supported by easing macro pressures and upbeat sector sentiment.
Inflation Print Spurs Rate Cut Sentiment
Data released from Australia’s consumer price index prompted renewed anticipation of monetary policy adjustments. The central bank’s preferred trimmed mean inflation measure fell within its stated range, supporting broader market gains.
While certain market commentators noted the reading was slightly higher than expectations, it remained within boundaries that historically accompany policy recalibration. Expectations around the upcoming policy meeting influenced market behaviour during the session.
The trimmed inflation metric, closely monitored by the Reserve Bank, showed movement back inside the preferred corridor, which hasn't occurred in several cycles.
Coles Reports Quarterly Sales While Shares Edge Lower
In corporate updates, supermarket group Coles (ASX:COL) reported its latest sales data for the quarter. The company noted an uptick in overall sales values, attributing the result to changes in consumer behaviour and pricing strategies. However, shares in the retail giant declined slightly during the session.
Coles attributed price shifts to rising livestock costs, particularly across meat categories including lamb, pork, and poultry. Excluding certain categories, broader inflation levels in its operations remained subdued.
Gold and Casino Operators Under Pressure
In contrast to broader market strength, Northern Star Resources (ASX:NST) saw a decline after outlining guidance related to its full-year operational costs. Increased maintenance and royalty expenses contributed to the day’s movement in the gold segment.
Casino operator Star Entertainment (ASX:SGR) also closed lower. The firm disclosed a negative EBITDA for the recent quarter and acknowledged ongoing challenges in maintaining operational stability. The company is expected to face a critical shareholder vote regarding a takeover proposal later this financial year.
Broad Sector Strength Pushes Market Higher
A wide array of industry segments ended the session in positive territory. Information technology, A-REITs, healthcare, and discretionary categories were among the leaders.
The ASX 200 index recorded an upward movement, supported by strength in both large-cap and mid-cap equities. Overall, seven of the eleven sectors advanced, reinforcing positive sentiment on the trading floor.
