Tech Edges Higher as Materials Drag ASX Midday Moves | asx 200 futures

2 min read | July 16, 2025 03:31 PM AEST | By Team Kalkine Media

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Tech Edges Higher as Materials Drag ASX Midday Moves | asx 200 futures — Image source: Shutterstock

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Highlights

Technology sector posts modest midday gains

Materials sector weighs on overall performance

(ASX:XRO) and (ASX:ALU) among tech names with positive momentum

Australian equities saw mixed movements by midday, with the technology sector showing slight gains while materials led the broader downturn. Notably, some tech names on the asx 200 futures index saw upward price action, balancing broader index volatility.

(ASX:XRO), a software company known for its cloud-based accounting platform, advanced during the early session. The gains in technology were further supported by (ASX:ALU), a global provider of software for engineering and electronics design. The broader information technology segment was one of the few trading in positive territory.

Materials Sector Weighs on Broader Index

The materials sector continued to exert downward pressure on the market, with some of the large-cap miners experiencing a dip in share prices. (ASX:BHP) and (ASX:RIO), both among the largest constituents on the ASX, slipped in early trading.

The pressure extended to gold producers such as (ASX:NST) and (ASX:EVN), which posted losses during the session. Their moves came amid subdued commodity prices and recent sector commentary that influenced sentiment.

Energy Stocks Remain Subdued Post-Surge

Following recent strength triggered by developments around (ASX:STO), energy shares moved sideways by midday. (ASX:WDS) and (ASX:ORG) saw limited upside as enthusiasm from the Abu Dhabi-led consortium bid began to moderate.

Despite a strong start to the day, early gains in the energy space lost steam, coinciding with stabilising oil benchmarks. Meanwhile, broader interest in the sector persisted due to corporate news flows.

Selective Movement Across Broader Sectors

Consumer discretionary and communication services posted modest changes. (ASX:TPG) and (ASX:JBH) hovered near flat lines, reflecting a cautious approach across those categories. Financials saw slight variation, with (ASX:CBA) and (ASX:WBC) trading in a narrow range.

The market overall lacked a clear direction, with six of the eleven sectors trading in the red at midday. Volatility remained contained ahead of upcoming macroeconomic cues and regulatory developments.

As the session progressed, all eyes remained on updates from key index constituents and external economic factors that may influence market trajectory through the remainder of the day.

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