Index Update: The Australian sharemarket finished largely unchanged on Tuesday, with the S&P/ASX 200 Index closing at 8,808.50 points. The benchmark index was virtually flat over the past five trading sessions and remained 4.29% below its 52-week high.

Seven of the 11 sectors ended the day higher. Energy led gains, rising 1.98% on the day and 7.54% over the past five sessions as higher oil prices supported the sector. Utilities gained 1.37%, while Materials and Health Care rose 0.67% and 0.66%, respectively.

After trading lower for much of the session, the ASX 200 recovered to finish flat as investors looked through the rise in oil prices.

Macro Update: According to media reports, the United States carried out a fresh wave of strikes on Iran on Tuesday, marking the third consecutive night of attacks ordered by President Donald Trump. The latest operation came as Washington reinstated a blockade on Iranian shipping and proposed a 20% fee for vessels using the Strait of Hormuz.

Jordan's armed forces said they intercepted and shot down four missiles that entered the country's airspace from Iran. Iranian media reported strikes in several cities, with four people injured and rescue operations underway.

Meanwhile, the Islamic Revolutionary Guard Corps said an American air base in Jordan had been targeted by Iranian ballistic missiles.

Top Market Movers: Among the top gainers, Light & Wonder Inc. (ASX:LNW) rose 7.98% to AUD 111.60, gaining AUD 8.25. SEEK Limited (ASX:SEK) advanced 4.98% to AUD 13.92, up AUD 0.66, while Domino's Pizza Enterprises Limited (ASX:DMP) climbed 4.95% to AUD 16.75, adding AUD 0.79.

On the losing side, Kingsgate Consolidated Limited (ASX:KCN) fell 16.09% to AUD 3.65, down AUD 0.70. Silex Systems Limited (ASX:SLX) declined 9.52% to AUD 4.75, shedding AUD 0.50, while Paladin Energy Ltd (ASX:PDN) dropped 5.99% to AUD 9.11, losing AUD 0.58.

Commodity Update: The U.S. dollar traded steady on Tuesday as investors awaited the latest U.S. inflation data for fresh signals on the Federal Reserve's interest rate outlook. Rising geopolitical tensions in the Middle East supported energy prices and boosted demand for safe-haven assets, while the Japanese yen remained under pressure amid intervention concerns. Gold advanced 0.37% to USD 4,021.10 per ounce, silver declined 0.07% to USD 57.91 per ounce, copper gained 0.07% to USD 13,523.50 per tonne, and Brent crude oil climbed 2.10% to USD 85.01 per barrel.

Our Stance: The Australian sharemarket showed resilience on Tuesday, with the S&P/ASX 200 Index closing flat at 8,808.50 points despite heightened geopolitical tensions in the Middle East. Strength in the Energy sector, which gained 1.98% on the day and 7.54% over five sessions, helped offset broader market weakness as oil prices climbed following fresh US strikes on Iran and disruptions around the Strait of Hormuz. Light & Wonder Inc. (ASX:LNW), SEEK Limited (ASX:SEK) and Domino's Pizza Enterprises Limited (ASX:DMP) led gains, while Kingsgate Consolidated Limited (ASX:KCN) was the biggest decliner. Commodity markets reflected a cautious tone, with higher oil and gold prices signalling continued investor focus on geopolitical risks and safe-haven assets.

The S&P/ASX 200 Index remained unchanged in the latest trading session, forming a small bullish candlestick that reflects renewed buying interest and suggests underlying resilience in market sentiment. From a technical perspective, the index continues to trade comfortably above its 50-day Simple Moving Average (SMA), which is acting as a key dynamic support level and reinforcing the prevailing bullish trend. Immediate support is located around 8,740.50. Holding above this level would help preserve the broader positive technical structure and maintain the potential for further upside. A sustained rebound from this support could pave the way for a retest of recent highs and potentially extend the ongoing rally. Conversely, a decisive break below 8,740.50 would weaken the near-term technical outlook, increase selling pressure, and raise the likelihood of a deeper corrective phase. Overall, the technical bias remains constructive as long as the index continues to trade above its key support levels and the 50-day SMA.