The S&P/ASX 200 Index (ASX: XJO) is slipping on Monday as Friday's strong rebound loses momentum.
At the time of writing, the ASX 200 is down 0.15% to 8,831 points.
That follows a 1.37% rise on Friday, when the index bounced back from the previous session's weakness.
The ASX 200 has traded between 8,817.5 points and 8,856.8 points, meaning buyers have stepped in from the morning low.
But the market has struggled to hold those gains, with banks, supermarkets, and resources keeping the index in negative territory.
There are more losers than winners as well, with 116 shares falling, 74 rising, and 10 trading flat.
Let's take a closer look.
Image source: Getty Images
Banks drag the index lower
The banks are doing a fair bit of the damage today.
Commonwealth Bank of Australia (ASX: CBA) shares are down 0.36% to $164.42, while Westpac Banking Corp (ASX: WBC) shares are down 0.83% to $35.395.
ANZ Group Holdings Ltd (ASX: ANZ) shares are also lower, down 0.20% to $35.19, and Macquarie Group Ltd (ASX: MQG) shares are down 0.62% to $250.10.
National Australia Bank Ltd (ASX: NAB) is holding up a little better, with its shares up 0.13% to $38.62.
The supermarkets are adding to the pressure.
Woolworths Group Ltd (ASX: WOW) shares are down 1.28% to $39.27, while Coles Group Ltd (ASX: COL) shares are down 0.67% to $23.125.
Some sectors are still fighting back
Despite the ASX 200 sitting in the red, there are still a few pockets of strength.
Energy shares are giving the market some support, even with oil prices slightly softer.
Woodside Energy Group Ltd (ASX: WDS) shares are up 1.26% to $28.22, while Santos Ltd (ASX: STO) shares are up 2.11% to $7.25.
Healthcare is also helping.
CSL Ltd (ASX: CSL) shares are up 1.15% to $123.21, and ResMed Inc (ASX: RMD) shares are up 1.28% to $30.89.
Gold shares are also drawing interest, with takeover activity giving the sector some extra attention.
Vault Minerals Ltd (ASX: VAU) shares are up 12% to $5.11 after receiving a takeover offer from Genesis Minerals Ltd (ASX: GMD). Genesis shares are down 7.15% to $5.84.
Regis Resources Ltd (ASX: RRL) shares are also higher, up 3.6% to $6.87.
Can the ASX 200 recover?
The ASX 200 isn't falling heavily, but today's move still shows how quickly Friday's rally has faded away.
The market is getting support from energy, healthcare, and gold, but the banks are making it difficult for the index to turn positive.
From here, the ASX 200 probably needs financials to steady and a few more large-cap stocks to join the rebound.
Without that, today may end up looking like a breather after Friday's strong rally.
