Australian Shares Track Global Peers Lower

The S&P/ASX 200 Index inched down 0.04% to close at 8,323 on Thursday, reversing earlier gains and tracking global markets lower.

Market sentiment was dampened after Nvidia's earnings report failed to provide the anticipated boost, while escalating geopolitical concerns, particularly regarding the Russia-Ukraine conflict, further rattled financial markets.

Investors are now looking ahead to Friday's manufacturing and services activity data for Australia, which will provide insights into the health of the domestic economy.

Notable losses were seen among major index components, including Wesfarmers (-1.4%), Pilbara Minerals (-3.1%), and James Hardie Industries (-2.4%).

In corporate news, GCQ Partners, which holds a near 20% stake in India’s Adani Group, saw its shares plunge 19.3% following the indictment of Gautam Adani in the US on charges of bribery and fraud.