The Australian sharemarket was sharply lower on Tuesday, hitting a five-month intraday low as technology stocks led broad declines amid uncertainty over the interest rate outlook and nerves ahead of Nvidia’s earnings. By 2.00pm AEDT, the S&P/ASX 200 had fallen 140.6 points, or 1.6 per cent, to 8495.80, its weakest level since 20 June. Sentiment was further weighed down by minutes from the Reserve Bank’s latest meeting, which showed September-quarter inflation was “larger than expected” and indicated rates would remain on hold until the data shifts. Markets have been adjusting their expectations, with Commonwealth Bank chief executive Matt Comyn saying he does not expect the RBA to cut rates at all in 2026.
Tech names were the hardest hit, dropping 5.4 per cent as investors braced for Nvidia’s results later this week. WiseTech Global, Xero and TechnologyOne all retreated, the latter plunging 14 per cent after its 2025 recurring-revenue outlook fell short and the company provided no guidance for 2026. The major banks also weakened, with Commonwealth Bank near a six-month low, while iron ore softness dragged BHP, Fortescue and Rio Tinto more than 1.5 per cent lower. Some pockets of strength emerged, notably PLS, which rose 2.4 per cent after a bullish lithium price prediction, while defensive names such as CSL, Coles and a2 Milk saw modest gains as investors rotated into safer sectors.
In company news,
SRJ Technologies wins US$23.8m NOC contract via Middle East JV
SRJ Technologies (ASX:SRJ) has executed a Joint Venture Agreement with CAPSA Engineering & Contracting to deliver a four-year, US$23.8m asset-integrity contract for a National Oil Company in the Middle East, with an option for a two-year extension. The work, covering electrical integrity services across gas operation and maintenance sites, will be issued via call-off orders, with SRJ expecting to receive roughly half the contract value over the term. The JV structure includes shared risks and responsibilities, a jointly managed bank account, and SRJ performing its allocated work through its newly acquired NOC-registered subsidiary, First Avenue. Mobilisation has begun as SRJ seeks to deepen its position as an embedded asset-integrity partner in the region.
SKS Technologies expands into NSW data-centre market with Delta Elcom acquisition
SKS Technologies (ASX:SKS) intends to acquire Delta Elcom, a Sydney-based specialist in data-centre electrical and communications infrastructure, for $13.75m–$15m through a mix of cash, shares, and a performance-linked earn-out. Delta Elcom generates roughly $25m in annual revenue and will strengthen SKS’s presence in Australia’s largest data-centre market. The acquisition is expected to complete in January 2026, with Delta Elcom’s Managing Director to become SKS’s NSW General Manager, and both teams integrating under a unified structure. SKS expects the acquisition to accelerate its growth in digital-infrastructure projects amid continued hyperscale investment.
Tryptamine progresses world-first TRP-8803 trial for Binge Eating Disorder
Tryptamine Therapeutics (ASX:TYP) has enrolled a second patient in its world-first clinical trial using TRP-8803, an IV-infused psilocin formulation, to treat Binge Eating Disorder, with the first patient scheduled for dosing on 1 December 2025. The 12-patient study involves two cohorts receiving mid- and high-dose regimens alongside supportive therapy, with top-line results expected in Q1 2026. Screening continues with support from the Butterfly Foundation, Australia’s leading eating-disorder charity, which is helping raise awareness and assist recruitment. The trial marks the first clinical administration of TRP-8803 in this condition and represents a key milestone in psychedelic-assisted therapeutic development.
