ASX 200 gains for fourth month as miners like BHP ride global AI waveAI-driven copper demand has lifted materials stocks on a mixed day of trading for the Aussie sharemarket, as healthcare and consumer staples lagged.Cameron Micallef2 min readJuly 31, 2026 - 6:08PMNewsWireAustralian materials stocks have surged as an AI trade proxy, helping the ASX 200 close higher for a fourth consecutive month.The benchmark index eked out just a 9.10 point gain or 0.10 per cent to 8976.80, while the broader All Ordinaries closed 14.30 points or 0.16 per cent to 9137.00 points. Australia’s dollar appreciated to 70.32 US cents.Five of the 11 sectors finished higher. Picture NewsWire / Gaye Gerard.On a mixed day of trading, strong gains in materials were offset by falls in healthcare and consumer staple stocks.BHP shares climbed 1.96 per cent to $60.31 and Riot Tinto jumped 1.28 per cent to $170.57, as rising copper prices served as a proxy for the Ai trade.AI-related shares rallied following renewed optimism in the emerging technology. Others you may likenewsnews“Materials continue to act as a local proxy for the AI trade, with investors seeking copper exposure – a key input to the AI build out – on the back of the overnight Nasdaq rally and renewed AI sentiment,” Global X ETFs Joseph Marassa said. South Korea’s KOSPI index surged 17.91 per cent driven by chip makers SK Hynix and Samsung Electronics.The technology-heavy US Nasdaq 100 also had a strong day of trading overnight up 3.36 per cent. Offsetting the gains in materials were healthcare and consumer staples.Vaccines giant CSL slumped 3.81 per cent to $123.06, Sigma Healthcare slid 0.68 per cent to $2.94 and ResMed fell 1.52 per cent to $29.79.The ASX followed a strong lead in from overseas tech giants. Picture: Newswire / Gaye GerardIt was also a weak day of trading for consumer staples stocks, as the major supermarkets traded in the red. Woolworths shares dropped 1.73 per cent to $39.77, Coles slipped 0.70 per cent to $24.09, while A2 Milk shares dragged 2.55 per cent to $6.89. IG senior Market Analyst Tony Sycamore said despite the subdued trading on Friday, the local sharemarket is now up for the last four months, with the benchmark up 2.37 per cent for the month of July. “This sees July once again living up to its reputation as the strongest month of the year and leaves it not far from the 2.73 per cent average for July seen over the past 10 years,” he said. “The ASX200’s gains this week have been supported by the cooler Australian inflation report for June and a more measured tone from the RBA Governor on Tuesday, which reinforced expectations the cash rate will remain at 4.35 per cent next month. “Solid trading updates from two of the major miners added further support.”More Coverage‘Fed up’: Unions’ $120m threat to BHPCameron Micallef‘15pc drop’: NAB’s staggering home loan newsCameron MicallefIn company news, shares in 4D Medical surged 13.08 per cent to $3.63 following a quarterly activity report which showed operating revenue came in at $7.2m, up 23 per cent compared with prior corresponding period.Origin Energy added 0.94 per cent to $10.76 after June quarter revenue increased by 6 per cent compared with the prior quarter to $1.96bn. Shares in Energy One rocketed 31.80 per cent to $14.30 after the business received an unsolicited, indicative, non-bidding and conditional proposal from Volue AS to buy the company. Read related topics:ASXMore related storiesAt Work‘Fed up’: Unions’ $120m threat to BHPUnions have threatened strike action against BHP saying it’s time to put an end to “delay, distract and waste time” negotiation tactics.Read moreAustralian MarketsASX 200 snaps three-day win streakMiddle East war fears and Wall Street’s heavy overnight fall have snapped the ASX 200’s three-day winning streak, with nine of 11 sectors closing lower.Read moreAustralian MarketsASX soars on shock inflation figureSofter inflation figures have sent the ASX surging to its highest close in five months, despite the Australian dollar falling.Read more