Evolution Mining Ltd's stock fell sharply by 5.25% during intraday trading on Friday, underperforming the broader Australian market which edged higher on gains in banking and technology sectors.

The gold miner's decline was part of a sector-wide weakness in gold stocks, which lost 1.5% as bullion prices inched lower during the session. The broader mining sector also faced pressure, falling 2.1% amid declining copper prices.

While financial and technology stocks provided support to the Australian benchmark index, resource companies including gold miners like Evolution Mining faced headwinds from softer commodity prices during the trading session.