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The Australian stock market is slipping to modest losses in mid-market trading on Tuesday, extending the losses in the previous two sessions, despite the broadly positive cues from Wall Street on Monday. The benchmark S&P\/ASX 200 index is falling well below the 8,700.00 level, with weakness in financial and technology<\/span> stocks partially offset by gains in mining and energy stocks.<\/p>\n Traders also remained cautious ahead of the release of Australia’s 2026 federal budget later in the day.<\/p>\n The benchmark S&P\/ASX 200 Index is losing 32.20 points or 0.37 percent to 8,669.60, after touching a high of 8,713.40 and a low of 8,619.10 earlier. The broader All Ordinaries Index is down 35.30 points or 0.40 percent to 8,907.10. Australian stocks closed notably lower on Monday. <\/p>\n Among the major miners, Rio Tinto is gaining almost 3 percent, BHP Group is advancing more than 3 percent, Fortescue is adding almost 1 percent and Mineral Resources is up more than 1 percent.<\/p>\n Oil stocks are mostly higher. Beach energy, Santos and Woodside Energy are gaining almost 1 percent each. Origin Energy is flat.<\/p>\n Among tech stocks, Afterpay owner Block is losing more than 2 percent, Appen is slipping almost 2 percent and Zip is declining almost 3 percent, while Xero and WiseTech Global are tumbling more than 5 percent each.<\/p>\n Gold miners are mostly higher. Northern Star Resources is gaining almost 4 percent, Newmont is surging almost 5 percent, Resolute Mining is jumping more than 5 percent, Genesis Minerals rising more than 6 percent and Evolution Mining is advancing almost 4 percent.<\/p>\n Among the big four banks, Commonwealth Bank and Westpac are losing more than 1 percent each, while ANZ Banking and National Australia Bank are declining almost 2 percent each.<\/p>\n In economic news, Australia’s NAB Business Confidence Index rose to -24 in April 2026 from -29 in the previous month, which had marked the second-largest monthly drop on record amid surging energy costs tied to the Middle East conflict. Meanwhile, business<\/span> conditions slid to 3 from 6, the second-lowest since 2020 and the fourth straight decline.<\/p>\n In the currency market, the Aussie dollar is trading at $0.723 on Tuesday. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n