ASX 200 ends flat as gains in defensives offset weakness in banks and tech

The ASX 200 closed nearly flat at 8,728 on Wednesday, as gains in utilities, healthcare and industrial services were offset by weakness in technology, transport and financial stocks. The market paused after three straight sessions of gains, while US stock futures edged lower following another record close on Wall Street.

Investor sentiment was also weighed down by weak September industry activity data in Australia. Businesses reported tighter access to finance and continued cost pressures, while renewed fuel-driven inflation added to concerns over the economic outlook.

Financial stocks remained under pressure, with three of the four major Australian banks declining between 0.8% and 1.3%. In contrast, mining and materials stocks provided some support, with Evolution Mining rising 2.5%, Northern Star Resources gaining 1.9%, PLS Group advancing 1.8% and Lynas Rare Earths adding 1.6%.

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