Market Wrap / dividend drag

The S&P/ASX 200 slipped 0.3% to close at 8900.60 points on Tuesday, crossing below its 20-day moving average. Trading volumes were light with Wall Street shut for the Labor Day holiday.Nine of eleven sectors ended lower, weighed down as several large caps went ex-dividend. Wesfarmers dropped 2.9%, Woolworths fell 3.1%, and Santos slid 1.4%.Financials bucked the trend, finishing higher. Westpac rose 0.8% after announcing plans to hire 350 bankers to capture more business lending market share.NRW Holdings was the day’s standout, up 6.3% to a 13-year high after acquiring Fredon Industries.Gold miners also shone as bullion hit a record high. Ramelius Resources gained 2.7%, Perseus added 2.2%, and Newmont rose 0.7%.Collins Foods climbed 7% after reporting a 6.7% sales lift for the first 18 weeks of FY26, with guidance for low to mid-teen profit growth reaffirmed.Meanwhile, the NSW Supreme Court will hear the merger application for Brickworks and Soul Patts on Friday, September 12.Looking ahead, the US ISM manufacturing index for August is due tonight, while RBA Governor Michele Bullock is set to speak tomorrow.