Materials stocks advanced over 2% to lead gainers in midday trading on Tuesday amid a broadly lower market ahead of the release of Australia's federal budget, and as tensions persisted between the US and Iran.
Shares of BHP Group (ASX:BHP) rose nearly 3% after copper prices hit an all-time peak on the London Metal Exchange.
On the flip side, information technology stocks shed 4% to lead decliners.
WiseTech Global (ASX:WTC) and Xero (ASX:XRO) both fell past 5%.
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