Australian Stock Market Extends Gains as ASX 200 Stays in the Green; DroneShield Surges, Eagers Automotive Dips

Sydney / Mumbai: The Australian stock market continued its positive momentum on Tuesday, with the S&P/ASX 200 index closing higher by 95.80 points, or 1.10 per cent, at 8,795.70, marking a sustained rally into the final week of trading and keeping the benchmark index firmly in positive territory. The benchmark has climbed consistently over the past week, staying near its annual highs and reflecting resilient investor sentiment.

DroneShield Limited, a defence technology company specialising in counter-drone systems, was among the top gainers on the ASX, drawing strong buying interest and lifting its stock price sharply during the session. The surge in DroneShield’s shares boosted sentiment across the industrials and tech segments of the market.

In contrast, Eagers Automotive underperformed, with its stock slipping during the session, contributing to the list of laggards on the ASX 200. Other stocks also saw mixed performances as sectoral rotations continued, with certain materials and financial names outperforming while select consumer and auto names lagged.

Overall, the broader market maintained its upbeat trajectory, with strong gains in defence and select industrial stocks helping offset weaknesses elsewhere as investors positioned themselves ahead of key global economic data later in the week