Until this year, investors sought solace in capital-light companies with reliable earnings. Now, in the age of disruption, nothing is safe.

The Australian sharemarket has made a steady start to the last session of the financial year with banks driving higher but mining stocks weighed on the index.

Investors that missed the surge in resources shares during the 2026 financial year were also hit by a brutal sell-off in technology and healthcare darlings.

Until this year, investors sought solace in capital-light companies with reliable earnings. Now, in the age of disruption, nothing is safe.