What happened
The S&P/ASX 200 gained 1.03% over the week to close at 8,806.7, backed by strong performances from major banks like Commonwealth Bank of Australia and a rebound in BHP Group. In contrast, the S&P/ASX Small Ordinaries index dropped 2.82% to 3,189.2 as selling broadened.
Why it matters here
Heavyweight bank stocks provided crucial index support during sessions when materials, technology, and small-cap equities faced selling pressure. The benchmark remains 4.49% below its 60-session high, indicating an uneven broader market participation with utilities leading sector gains while materials fell.
What to watch
Upcoming local annual general meetings and major bank quarterly financial updates over coming trading sessions.
Source
smallcaps.com.au