Market Wrap / glitter & grit

The Australian market gained ground during Tuesday's session, lifted by an optimistic session on Wall Street. 

President Trump cast doubts on the scope of tariffs, mentioning “breaks” from additional levies due early April. 

The IT sector followed Wall Street's momentum, lifting 0.07%.

REITs also pushed the local market higher. Both HomeCo Daily Needs and HealthCo REITs advanced during the day’s trade. The former distributed an interim dividend while the latter said it would focus on preserving its balance sheet. 

The miners offered a more contrasted picture however, with BHP shedding 0.7%. Gold Road Resources rejected a hostile $3.3 billion acquisition proposal from producer Gold Fields, saying the proposal undervalued its company, sending shares higher by 13.9%. 

Elsewhere, Ampol flagged $35 million worth of repairs from damages during cyclone Alfred, with half of those expected to be recovered through insurance. Ampol dropped 0.6%. 

Tonight, economists, investors and households will turn their attention to the Federal Budget 2025/26. ausbiz will deliver an in-depth analysis of what this means for investors tomorrow from 9:30am AEDT.