S&P/ASX 200 Index (ASX: XJO) tech shares led the 11 market sectors with an impressive 7.34% increase last week.
Meanwhile, the benchmark index edged 0.2% higher to close at 8,682.1 points on Friday.
ASX 200 tech shares were the surprise performer during a topsy-turvy week for the local bourse.
Tech shares are recovering from a 48% drop between 29 August 2025 and 30 March due to fears over artificial intelligence (AI).
Since then, the S&P/ASX 200 Information Technology Index (ASX: XIJ) has rallied 15% versus a 3% lift for the benchmark.
A changing of the guard helped push the tech sector higher amid turbulent trading on the ASX 200.
Communications and metals detection designer and manufacturer Codan Ltd (ASX: CDA) overtook logistics software provider WiseTech Global Ltd (ASX: WTC) as the sector's largest company by market capitalisation after a trading update last week.
Meanwhile, the ASX 200 had its worst one-day fall in six months on Thursday amid concerns over rising interest rates and bond yields trading at close to multi-decade highs.
The Reserve Bank of Australia raised the official cash rate by 0.25% to 4.6% on Tuesday.
Meanwhile, the 10-year US Treasury bond yield was 5.24% and Australia's was 5.33% on Friday.
Six of the 11 ASX 200 market sectors finished in the green last week.
Let's review.
Image source: Getty Images
ASX 200 tech shares led the market sectors last week
Let's take a look at how the biggest ASX 200 tech shares by market cap performed last week.
The Codan share price soared 29.09% to close at $67.45 on Friday after a trading update.
Codan's market valuation is now $12.3 billion.
The WiseTech share price ascended 6.7% to close at $33.43 with a valuation of $10.5 billion.
TechnologyOne Ltd (ASX: TNE) shares rose 4.2% to $30.52 apiece.
The Xero Ltd (ASX: XRO) share price edged 0.85% higher to $57.85.
The Nextdc Ltd (ASX: NXT) share price fell 4.19% to $10.74.
Megaport Ltd (ASX: MP1) shares soared 13.86% to $22.34 on news of $1 billion in new AI infrastructure contracts.
The Life360 Inc (ASX: 360) share price rose 5.59% to $20.40.
The Dicker Data Ltd (ASX: DDR) share price lifted 2.67% to $15.40 apiece.
The Data#3 Ltd (ASX: DTL) share price soared 22.61% to $13.61 on the back of a trading update.
The Bravura Solutions Ltd (ASX: BVS) share price rose 0.96% to $3.15.
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 |
| Information Technology (ASX: XIJ) | 7.34% |
| Consumer Discretionary (ASX: XDJ) | 2.64% |
| Communication (ASX: XTJ) | 1.81% |
| Utilities (ASX: XUJ) | 0.64% |
| Industrials (ASX: XNJ) | 0.47% |
| Financials (ASX: XFJ) | 0.15% |
| A-REIT (ASX: XPJ) | (0.19%) |
| Consumer Staples (ASX: XSJ) | (0.2%) |
| Materials (ASX: XMJ) | (0.45%) |
| Energy (ASX: XEJ) | (1%) |
| Healthcare (ASX: XHJ) | (1.21%) |
