The S&P/ASX 200 Index traded lower during the morning session on Tuesday, November 18, 2025. The index dropped 1.04%, with losses extending its fall to 6.1% from the late October peak. The decline persisted for more than five weeks, signalling a challenging period for the Australian market.
Australian Market Overview
The S&P/ASX 200 Index reached 8,456 points, losing 2.08% since the previous session. The downward trend reflected cautious investor sentiment. Over the past month, the index fell 4.99%. Despite this short-term decline, the benchmark index remained 3.38% higher over the past year.
ASX 200 as of 15:30 AEST
Financials Trade Lower
Major financial stocks traded down. The financials index dropped 0.2%, hitting its lowest level in more than three months. Commonwealth Bank of Australia registered a 1% decline, retreating to a seven-month low after releasing earnings and warning about narrowing profit margins. Commonwealth Bank attracted significant attention, with buyers accounting for 85% of activity. Investors appeared keen to take advantage of last week’s share price plunge.
Commonwealth Bank of Australia (ASX:CBA)
Technology Sector Weakness
The S&P/ASX 200 Information Technology Index dropped sharply, falling 25% since late September. The sector traded at its lowest level since April. TechnologyOne reported full-year revenue of $589.4 million, EBITDA of $256.8 million, and a net profit after tax of $140.5 million, up 19% from the previous year. Despite these growth figures, TechnologyOne led the market losses, falling 17% for the session.
TechnologyOne Ltd (ASX:TNE)
Most Actively Traded Shares
Among the most traded shares, Droneshield Ltd maintained the highest activity for investors. About 71% of activity involved buying throughout the previous week. Liontown Resources, Woodside Energy Group, and Mineral Resources saw higher volumes, with most of their activity attributed to investor selling.
Mining Sector Declines
The mining sector slid 1.2%, reaching its weakest level in almost two weeks. Declining commodity prices pressured shares and contributed to broader market weakness. Gold shares also faced headwinds, with Evolution Mining and Ramelius Resources dropping after the gold price tumbled 1.4% overnight to US$4,036.4 an ounce.
Energy Sector Update
Energy stocks traded mixed during the session. Oil prices eased overnight, with WTI crude down 0.3% to US$59.91 a barrel and Brent crude falling 0.25% to US$64.17 a barrel. Karoon Energy and Santos reflected subdued momentum after oil prices softened on resuming Russian exports following an attack on an export hub.
Market Sentiment and Investor Outlook
Investor sentiment remained subdued due to concerns about a potential market crash. Over the past month, slumping sentiment pushed the index down 5.4%, with cautious trading activity influencing gains. The ASX recorded strong trading volumes despite macroeconomic volatility. Market participants continued to assess fundamental factors and macroeconomic developments during this period.
Analyst Recommendations
Bell Potter maintained a buy rating for Elders Ltd, setting a price target of $9.45 per share. According to their report: “We see encouraging signs for FY26e, with livestock turnoff values up ~35% YOY through 1Q26TD, stable to rising crop protection active ingredient values, and modestly higher fertiliser price indicators. A more normal selling pattern in FY26e, delivery on SYSMOD and backward integration initiatives, sector tailwinds, and consolidation of Delta are expected to drive high double-digit EPS growth in FY26-27e”.
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External Markets Influence
Global sentiment weighed on local trade. A sharp decline on Wall Street set the tone for ASX trading. The Dow Jones fell 1.4%, while the S&P 500 and Nasdaq dropped 1.3% and 1.35% respectively. Tech stocks in the United States also contributed to lower sentiment, amplifying caution in the Australian technology sector.
Penny Stocks and Growth Opportunities
Investor attention also shifted to ASX penny stocks, which remained resilient under changing market conditions. Penny stocks exposed to critical minerals presented potential opportunities, but the overall sector faced mixed results. Small-cap growth stocks continued to attract interest for future upside, reflecting ongoing market adaptation to volatility.
Trading Statistics
- S&P/ASX 200 Index: 8,489 points, down 1.71%
- Monthly change: -4.99%
- Yearly change: +3.38%
- Financials index: -0.2%
- TechnologyOne: Full-year revenue $589.4 million, EBITDA $256.8 million, net profit $140.5 million (up 19%)
- Gold price: US$4,036.4/oz, down 1.4%
- Oil prices: WTI US$59.91/bbl, Brent US$64.17/bbl
Conclusion
Australian equities remained under pressure during the session as the S&P/ASX 200 Index extended its losses. Technology and financial sectors drove declines, while mining and energy stocks faced additional challenges from global commodity price movements. Investors responded to market volatility with selective buying and selling, focusing on potential growth and resilience in certain stocks. Professional analysts continued to highlight opportunities for future gains in sectors supported by encouraging fundamentals, though overall sentiment remained cautious through mid-November 2025.
