On Thursday, the Australian market displayed a slight increase, making up for some of the significant losses sustained during the former session. This follows ambiguous indications from Wall Street. The primary S&P/ASX 200 held just under the 7,600 mark, with an increase in the value of gold miners and financed inventory slightly undermined by the decline in financial and technology shares.
The standard S&P/ASX 200 Index gained 9.40 points or 0.12 percent, reaching 7,579.30 after hitting an earlier high of 7,589.00. The broader All Ordinaries Index increased by 10.90 points or 0.14 percent landing on 7,842.80. Australian stocks had ended notably lower on Wednesday.
Notable miners Rio Tinto and Fortescue Metals showed slight decline from 0.2 to 0.4 percent each, while BHP Group noticed a small increase of 0.1 percent and Mineral Resources gained nearly 1 percent.
Oil stock was on the decline, with Woodside Energy dropping over 1 percent. Meanwhile, Origin Energy, Beach Energy, and Santos all declined almost 1 percent each.
In the tech sector, Afterpay owner Block saw a significant decrease of over 7 percent, while Xero slumped 0.3 percent and Zip saw a decrease of over 1 percent. Conversely, Appen gained nearly 1 percent, and WiseTech Global remained steady.
Among the "big four" banks, Commonwealth Bank, ANZ Banking and National Australia Bank saw an increase of almost 1 percent each, with Westpac gaining 1.5 percent.
Gold miners like Evolution Mining increased by 1.5 percent, Resolute Mining advanced more than 4 percent, and Gold Road Resources grew by almost 3 percent. Additionally, Newmont increased by almost 1 percent and Northern Star Resources rose by almost 2 percent.
Other notable shifts include a 31 percent drop in Bapcor shares following profit guidance downgrades, and Woolworths whose shares slipped by 4 percent post-results which fell short of analyst estimates.
In currency exchange, the Australian dollar was trading at $0.652 on Thursday.
Amid lackluster performance, the U.S. Federal Reserve's monetary policy announcement caused substantial volatility on Wall Street. After an initial surge in response to the announcement, the major averages dipped towards the end. The Dow rose 0.2 percent, as the Nasdaq fell 0.3 percent, and the S&P 500 declined 0.3 percent.
UK's FTSE 100 Index also dipped slightly by 0.3 percent, while other significant European markets remained closed.
Lastly, crude oil prices dropped to a seven-week low after an unexpected leap in U.S. crude inventories from last week. The West Texas Intermediate Crude oil futures for June ended at $79.00 a barrel, marking the lowest settlement since March 12.