The ASX 200 got off a slow start but held its ground throughout Thursday trade, to finish 0.14% lower at the close.

Large cap miners held the fort, offsetting another brutal session for tech stocks which are increasingly subject to volatile swings.

The ASX 200 Information Technology index stacked it with a +5% fall, while banking stocks traded flat and few other sectors stood out.

Helping to arrest a sharper fall for the broader index were the iron ore majors, as Rio, BHP and Fortescue all jumped by around 3%.

Only global markets, things are looking shaky again.

Nasdaq futures are pointing ~2% after Meta (NSDQ:$FB) slumped in after-hours trade following an earnings miss, while S&P500 futures are trading around 1% lower.

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
NUF Nufarm Limited 5.58 20% 7,382,477 $1,766,802,445
MCY Mercury NZ Limited 5.54 8% 88,838 $7,015,849,805
GNE Genesis Energy Ltd 2.71 5% 31,273 $2,702,842,806
IFL Insignia Financial 3.81 4% 3,660,738 $2,383,020,387
AMC Amcor PLC 16.88 3% 4,163,148 $13,246,460,719
FMG Fortescue Metals Grp 21.11 3% 6,837,258 $62,995,622,222
BHP BHP Group Limited 46.92 3% 14,422,628 $231,044,430,392
GOR Gold Road Res Ltd 1.365 3% 2,688,258 $1,172,950,828
RIO Rio Tinto Limited 114.36 3% 1,363,300 $41,364,622,726
QBE QBE Insurance Group 12.03 3% 4,263,303 $17,319,494,745
APM APM Human Services 2.81 3% 511,128 $2,513,078,532
GQG GQG Partners 1.61 3% 4,535,240 $4,635,904,531
AIZ Air New Zealand 1.455 2% 985,949 $1,594,438,802
ORG Origin Energy 5.83 2% 5,115,898 $10,021,290,994
APA APA Group 10.17 2% 1,550,750 $11,716,345,911
SKC Skycity Ent Grp Ltd 2.7 2% 523,005 $2,006,941,752
WBC Westpac Banking Corp 21.04 2% 11,496,661 $75,572,991,245
DEG De Grey Mining 1.225 2% 5,791,926 $1,687,708,230

Among large caps, ~$1.8bn agricultural chemicals company Nufarm (ASX:NUF) led the pack following a trading update where it flagged a lift in quarterly revenues and said the “outlook for soft commodity prices remains positive, driving increased plantings”.

And as February reporting season kicks off, Westpac (ASX:WBC) had a solid session as investors responded positively to its December quarter trading update.

The banking major reported a statutory net profit of $1.82bn for the quarter, “up 80% on the quarterly average for 2H21”.

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
CTT Cettire 2.38 -21.2% 7,056,601 $1,151,339,424
NVX Novonix Limited 6.57 -14.7% 7,050,629 $3,740,895,127
AEF Australian Ethical 8.6 -13.4% 550,417 $1,116,004,280
SQ2 Block 145.8 -9.7% 1,772,684 $15,408,308,469
BRN Brainchip Ltd 1.59 -9.7% 28,457,927 $3,017,277,373
Z1P Zip Co Ltd. 2.91 -9.6% 7,480,731 $1,896,048,326
INR Ioneer Ltd 0.64 -9.2% 9,457,345 $1,445,636,621
IMU Imugene Limited 0.305 -9.0% 28,358,272 $1,944,911,454
TPW Temple & Webster Ltd 8.17 -8.8% 639,656 $1,079,258,235
WTC Wisetech Global Ltd 42.59 -8.0% 955,135 $15,102,433,831
HUB HUB24 Ltd 25.53 -7.8% 385,678 $1,899,529,454
ERA Energy Resources 0.3 -7.7% 664,350 $1,199,699,539
MFG Magellan Fin Grp Ltd 18.46 -7.5% 2,020,922 $3,704,974,430
PDN Paladin Energy Ltd 0.69 -7.4% 21,198,023 $1,995,811,035
360 Life360 Inc. 8.02 -7.3% 577,045 $1,583,652,207
ALU Altium Limited 34.45 -6.9% 588,156 $4,866,985,045
LTR Liontown Resources 1.375 -6.8% 11,348,588 $3,221,998,341
APX Appen Limited 9.4 -6.7% 1,387,222 $1,240,595,153
VUL Vulcan Energy 8.99 -6.7% 680,876 $1,268,697,245

Ecommerce stocks are under pressure to maintain their torrid post-COVID growth rates, and luxury goods retailer Cettire (ASX:CTT) slumped by more than 20% following its half-year trading update.

CTT said gross revenues rose to $154.1 million, up from $71.8m for the six months ended June 30, but shares in the company have now fallen by more than 40% from their November highs.

Ethical investment fund Australian Ethical (ASX:AEF) has also come off its highs, and fell by 13.4% today on now news.

Shares in the company have now dipped below $9 after hitting all-time highs above $14 in October.

A number of other market darlings came under pressure today, including Zip Co (ASX:Z1P) and Brainchip (ASX:BRN) which both fell more than 9%.

Geo-thermal lithium company Vulcan Energy (ASX:VUL) also lagged with a fall of 6.7%.