ASX 200 Rallies on Property and Mining Gains Despite Tech Selloff

The S&P/ASX 200 closed higher on October 6, 2026, gaining 0.57 percent to reach 8,735.7 points. This marked the third consecutive session of gains for the index, driven by strong performances in property and mining sectors. Despite a sharp selloff in technology stocks, which fell 2.90 percent, the overall market was buoyed by real estate gains of 1.11 percent and contributions from materials and financials.

Metcash was the top-performing stock, rising 4.70 percent, while Megaport saw the largest decline, dropping 5.75 percent. Other notable movers included Vicinity Centres and Scentre, both gaining over 2 percent, and Codan, which fell 4.3 percent after a recent strong run. The S&P/ASX 200 VIX also declined by 5.30 percent to 10.85, indicating reduced market volatility.

Consumer confidence took a hit following the Reserve Bank of Australia's rate increase, with the Westpac-Melbourne Institute consumer sentiment index falling 4.7 percent to 80.4 in October. Despite this weak sentiment, property and mining stocks continued to support the broader index. The next trading session is scheduled for Wednesday, October 7, 2026, with investors reacting to the previous day's gains and technology sector losses.