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The Australian stock market is reversing the early losses to modest gains in mid-market moves on Friday, recouping some of the losses in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P\/ASX 200 is moving up to near the psychological 8,000 mark, with gains in energy and mining stocks partially offset by weakness in technology<\/span> stocks.<\/p>\n The benchmark S&P\/ASX 200 Index is gaining 18.20 points or 0.23 percent to 7,987.20, after hitting a low of 7,941.50 and a high of 8,001.00 earlier. The broader All Ordinaries Index is up 16.70 points or 0.20 percent to 8,202.20. Australian stocks closed modestly lower on Thursday.<\/p>\n Among major miners, BHP Group is gaining almost 1 percent and Mineral Resources is advancing more than 2 percent, while. Rio Tinto and Fortescue Metals are adding more than 1 percent each.<\/p>\n Oil stocks are mostly higher. Santos is gaining more than 1 percent, Woodside Energy is adding almost 1 percent and Beach energy is edging up 0.3 percent, while Origin Energy is edging down 0.1 percent.<\/p>\n Among tech stocks, Afterpay-owner Block is losing more than 4 percent, Zip is slipping almost 3 percent, Xero is declining more than 1 percent and WiseTech Global is sliding almost 3 percent. Appen is edging up 0.5 percent.<\/p>\n Among the big four banks, National Australia Bank and ANZ Banking are edging up 0.1 percent each, while Westpac is gaining almost 1 percent. Commonwealth Bank is edging down 0.3 percent.<\/p>\n Gold miners are mostly higher. Evolution Mining is gaining more than 3 percent, Resolute Mining is up 1.5 percent, Northern Star Resources is advancing almost 5 percent and Newmont is adding more than 2 percent, while Gold Road Resources is losing almost 1 percent.<\/p>\n In the currency market, the Aussie dollar is trading at $0.629 on Friday. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n