ASX 200 consumer staples shares outperformed the 10 other market sectors last week, rising 2.9%.
This is the second time in a month that the defensive sector has led the market.
Meanwhile, the benchmark S&P/ASX 200 Index (ASX: XJO) edged 0.3% higher to finish the week at 8,657 points.
The market whipsawed last week as the war in Iran dragged on and depressing economic data was released.
US President Donald Trump said he called off strikes on Iran after Persian Gulf leaders assured him of an acceptable deal in the works.
However, on Friday, reports emerged of Iran and Oman working together to create a permanent toll system for the Strait of Hormuz.
The Strait, through which about a fifth of the world's oil and gas is shipped, runs between the two nations and remains effectively closed.
Meanwhile in Australia, the market was surprised by a fall in employment in April that pushed the unemployment rate up to 4.5%.
Additionally, the latest monthly consumer sentiment index rose just 3.5% off the extreme low recorded last month.
Matthew Hassan, Head of Australian Macro-Forecasting at Westpac Banking Corp (ASX: WBC), commented:
… consumers remain deeply pessimistic.
Forward views are clearly still being weighed down by uncertainty around global energy supply with the Strait of Hormuz still effectively shut.
However, rate rise fears are also in the mix.
Fierce debate also broke out last week over how proposed capital gains tax (CGT) changes may disincentivise start-ups in Australia.
Amid volatile trading conditions, ASX 200 investors upped their exposure to defensive consumer staples shares.
Let's take a look at the impact.
Image source: Getty Images
Consumer staples shares led the ASX sectors last week
The Woolworths Group Ltd (ASX: WOW) share price rose 5.15% to finish at $34.68 per share on Friday.
The Coles Group Ltd (ASX: COL) share price rose 3.17% to $21.47.
IGA network owner Metcash Ltd (ASX: MTS) lifted 3.39% to $3.05 per share.
Endeavour Group Ltd (ASX: EDV) shares fell 0.65% to $3.08.
The A2 Milk Company Ltd (ASX: A2M) share price tumbled 7.67% to $5.66.
ASX 200 wine share Treasury Wine Estates Ltd (ASX: TWE) increased 5.88% to $4.50.
The Bega Cheese Ltd (ASX: BGA) share price rose 0.37% to $5.39.
Almond food producer Select Harvests Ltd (ASX: SHV) ascended 6.65% to $3.85 per share.
ASX 200 agricultural share Graincorp Ltd (ASX: GNC) decreased 8.64% to $4.76.
Elders Ltd (ASX: ELD) shares tanked 18.33% to $5.88 after the company released its 1H FY26 numbers last week.
The Australian Agricultural Company Ltd (ASX: AAC) share price rose 2.27% to $1.35.
ASX 200 market sector snapshot
Here's how the 11 market sectors stacked up last week, according to CommSec data.
Over the five trading days:
| S&P/ASX 200 market sector | Change last week |
| Consumer Staples (ASX: XSJ) | 2.9% |
| Energy (ASX: XEJ) | 2.58% |
| Financials (ASX: XFJ) | 2.13% |
| Consumer Discretionary (ASX: XDJ) | 1.32% |
| Healthcare (ASX: XHJ) | 1.32% |
| Information Technology (ASX: XIJ) | (0.87%) |
| Materials (ASX: XMJ) | (1.29%) |
| A-REIT (ASX: XPJ) | (1.43%) |
| Industrials (ASX: XNJ) | (2.24%) |
| Communication (ASX: XTJ) | (2.37%) |
| Utilities (ASX: XUJ) | (3.65%) |
