Market Wrap / Nvidia's make-or-break

The Australian sharemarket swayed around a six-month low following the year’s second largest selloff yesterday. Strong gains in the resource sector saw the S&P/ASX 200 close 0.25% lower at 8,447.90 points. Helloworld made a bold $353 million bid for Webjet, pushing the latter's shares up by 15.79%.Gold stocks were also among the frontrunners, with Northern Star and Evolution Mining helping to push the materials sector up 0.91%. Elsewhere, TechnologyOne extended its losses following Tuesday’s post-earnings plummet. Gains across the board were offset by the major banks, with the big four all finishing in the red. Commonwealth Bank continued its downwards campaign, retreating a further 0.82% along with ANZ shedding 1.64%. Droneshield tumbled 19.38% in light of US CEO Matt McCrann resigning immediately; the company has plunged by around 50% this past month. On the smaller end of town, SKS Technologies secured a $130 million data centre project, edging up 2.36% to round out the day of trade. Tonight, markets brace for Q3 results from Nvidia.