Jan 13 (Reuters) - Banks and health stocks dragged Australian equities lower on Monday as investors awaited domestic jobs data due later this week, while Insignia Financial hit more than three-year high on Bain Capital's sweetened offer.

The S&P/ASX 200 index .AXJO slid 0.9% to 8223.1 by 0001 GMT. The benchmark had fallen 0.4% on Friday, but rose 0.5% for the week.

Traders awaited the domestic employment data expected on Thursday for clues on the Reserve Bank of Australia's $(RBA)$ policy stance. A strong jobs data could defer the cuts.

Rate-sensitive financials .AXFJ dipped 1.6% and were set to decline for the third consecutive session. The "Big Four" banks dropped between 1.9% and 1.3%.

Meanwhile, Insignia Financial IFL.AX jumped as much as 3.2% to A$4.250, the highest since Oct. 28, 2021, after private equity firm Bain Capital sweetened its offer, valuing the wealth manager at A$2.87 billion ($1.77 billion) and heating up the bidding war.

Miners .AXMM recovered some of the early losses to trade flat. Sector majors BHP BHP.AX was unchanged, while Rio Tinto RIO.AX added 0.2% in volatile trading.

Pharma stocks .AXHJ slipped 1.4% and were headed for their worst trading day since Dec. 19, 2024.

IT .AXIJ and real estate firms .AXRE declined 2.1% and 1.5%, respectively.

Energy stocks .AXEJ bucked the trend to gain 1.7% on the back of higher oil prices, which rallied as traders braced for supply disruptions. Sector heavyweight Woodside Energy WDS.AX advanced 2.2%.

Brent crude LCOc1 futures climbed 1.23% to $80.74 a barrel and U.S. West Texas Intermediate $(WTI)$ crude CLc1 gained 1.36% to $77.62 per barrel.

New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.4% to 12,843.06 points as of 0001 GMT.

($1 = A$1.6255)

(Reporting by Rajasik Mukherjee in Bengaluru; Editing by Sumana Nandy)

((Rajasik.Mukherjee@thomsonreuters.com))

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