Source: Krish Capital Pty Ltd

Index Update: The Australian share market edged higher on Thursday, with the S&P/ASX 200 rising 8.50 points, or 0.10%, to close at 8,773.00. The index has gained 0.32% over the past five sessions but remains 3.11% below its 52-week high. The Australian market advanced as the rally in the energy and materials sector helped offset weakness in healthcare, retail, and industrials, as investors continued to weigh hotter-than-expected inflation data, which dampened hopes of an interest rate cut in November.

Today, more sectors finished in the red than in green, with Energy leading gains, up 1.90% on the day and 1.34% for the week.

Macro Update: Job vacancies in Australia fell by 2.7 per cent in the three months to August 2025, with a total of 327,200 openings, according to the Australian Bureau of Statistics (ABS). Robert Long, head of labour statistics at the ABS, noted that while vacancies had risen in the quarter to May, they declined again by August, largely due to a 3.4 per cent drop in private sector positions. Public sector vacancies, by contrast, increased 2.2 per cent, marking the fourth consecutive quarterly rise.

Meanwhile, total household wealth grew 2.7 per cent, or AUD 470.1 billion, in the June quarter, driven by higher asset values, particularly in residential property and superannuation balances. Residential dwellings and land added AUD 205.2 billion, while house prices rose 1.4 per cent for the quarter, though annual growth slowed to 3.5 per cent. Household borrowing also increased, offsetting part of the wealth gains.

Top Market Movers: Capstone Copper Corp (ASX: CSC) topped the gains on Thursday, jumping 10.75% to close at AUD 12.47. Sandfire Resources Ltd (ASX: SFR) followed with a 7.57% rise to AUD 13.65, while Karoon Energy Ltd (ASX: KAR) advanced 6.14% to AUD 1.73. On the downside, Catalyst Metals Ltd (ASX: CYL) led the losses, falling 7.78% to AUD 7.71. Westgold Resources Ltd (ASX: WGX) slipped 5.41% to AUD 4.20, and Deterra Royalties Ltd (ASX: DRR) declined 5.25% to AUD 3.97.

Commodity Update: The U.S. dollar was steady on Thursday, holding its overnight gains, as traders weighed the prospect of a measured Fed easing cycle in the wake of a cautious tone from policymakers while awaiting data that may outline the impact of tariffs. Gold surged 0.02% to $3,768.50, silver advanced 0.17% to $44.26, and copper eased 0.14% to $10,357.05. Brent crude fell 0.30% to $69.09 after hitting seven-week highs, as a surprise decline in U.S. crude inventories added to signs of tighter supply, while heightened geopolitical tensions over Russia kept a risk premium in the market.

Our Stance: The Australian share market inched higher on Thursday, with the S&P/ASX 200 rising 0.10% to 8,773.00, supported by gains in the energy and materials sectors. Gains in Capstone Copper, Sandfire Resources, and Karoon Energy helped offset losses in healthcare, retail, and industrial stocks. On the macro front, ABS data showed a 2.7% drop in job vacancies, driven by weaker private sector hiring, while household wealth rose 2.7% in the June quarter, led by higher residential property and superannuation values. Commodity markets were mixed, with gold and silver edging higher, copper slightly lower, and Brent crude retreating amid tighter U.S. supply and geopolitical tensions. Overall, investors remain cautious, balancing domestic asset growth against inflation concerns and uncertain interest rate expectations.

In its latest session, the S&P/ASX 200 Index gained 8.50 points, closing at 8,773.00, supported by a bullish candlestick and strong trading volumes clear signs of sustained investor confidence. On the daily chart, the index remains below its 21-period Simple Moving Average (SMA), which continues to act as dynamic resistance and underpins the short-term negative bias. A key support zone is near 8,700, and holding above this level is critical to maintaining the current uptrend structure. On the upside, a decisive break above the 21-SMA would signal strong bullish confirmation, potentially unlocking further upward momentum and shifting sentiment in favor of the bulls. From a broader perspective, the index’s sustained position above the 50-period SMA on the weekly chart underscores a resilient long-term bullish foundation, reflecting strength across multiple timeframes.