Australia's equity market finished in negative territory on Monday, with the S&P/ASX 200 down 1.02% at the close in Sydney as sector declines led the selloff.
Market movers
Among the index constituents, Contact Energy Ltd (ASX:CEN) recorded the largest gain, rising 7.46% or 0.59 points to close at 8.50. Nine Entertainment Co Holdings Ltd (ASX:NEC) added 6.99% or 0.08 points to finish at 1.23, while Whitehaven Coal Ltd (ASX:WHC) was up 3.06% or 0.27 points to end the session at 9.10.
On the downside, Graincorp Ltd (ASX:GNC) led losses, falling 13.19% or 0.95 points to trade at 6.25 at the close. Newmont Corporation DRC (ASX:NEM) declined 10.02% or 17.37 points to finish at 155.91, and Emerald Resources NL (ASX:EMR) slipped 9.13% or 0.68 points to 6.77.
Breadth and notable thresholds
Decliners outnumbered advancers on the Sydney Stock Exchange by 908 to 347, while 326 stocks finished unchanged. Graincorp's drop took its share price to three-year lows, with the company losing 13.19% or 0.95 to 6.25.
Volatility and commodities
The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, rose 12.46% to 12.58, marking a one-month high for the gauge.
In commodities trading, Gold Futures for April delivery fell 1.44% or 68.39 to $4,676.71 a troy ounce. Crude oil prices also moved lower: the March contract for crude oil dropped 5.17% or 3.37 to $61.84 a barrel, while the April Brent oil contract declined 5.05% or 3.50 to trade at $65.82 a barrel.
Foreign exchange and broader indicators
AUD/USD was unchanged 0.53% to 0.69, and AUD/JPY eased 0.44% to 107.28. The US Dollar Index Futures was up 0.20% at 97.05.
Contextual summary
The session was characterised by sector-led weakness that translated into a modest retreat for the broader index. Mining-related names and materials companies accounted for a number of the largest declines, while a handful of utilities and media stocks produced outsized gains. At the same time, implied volatility rose and several commodity prices moved lower, reflecting mixed signals across markets.