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By Sherin Sunny

Feb 24 (Reuters) - Australian shares ended flat on Monday as financials rose to offset losses in commodity and technology stocks, while software maker Wisetech was the biggest laggard on the benchmark index.

The S&P/ASX 200 index .AXJO closed little changed at 8,308.2. The benchmark declined for the previous five sessions to end the week 3% lower.

Financials .AXFJ snapped a seven-session losing streak to end 1.9% higher. The "Big Four" banks gaining between 0.8% and 3%.

The Australian banks recovered after a sharp sell-off over the past eight sessions that wiped off more than A$63 billion ($40.19 billion) from their market value.

Jessica Amir, a market strategist at Moomoo Australia, said investors are buying into the dip after the top Australian banks were over-sold last week.

Technology stocks .AXIJ ended 6.8% lower, after dropping to the lowest since early November 2024.

Australian shares of Block XYZ.AX slipped 12.9% and was among the top drags on the benchmark. Wisetech Global WTC.AX plunged 20.1%, its lowest close since mid-August 2024. It was the top laggard on S&P/ASX 200.

The sell-off in Block, after the payments solutions provider said there was competition in the market for one of their divisions, and Wisetech directors' decision to step down affected the country's technology sector, Amir said.

Adding to the gloom, miners .AXMM dropped 1.6% on lower iron ore prices as more duties on Chinese steel dampened demand outlook. IRONORE/

BHP Group BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX lost between 0.8% and 3%.

Energy stocks .AXEJ finished 0.8% lower, tracking a drop in oil prices. O/R

Australian fuel retailer Ampol ALD.AX shed 2.6% and was among the top drags on the sub-index after reporting a steep decline in annual profit and declaring its lowest final dividend in a decade.

Gold stocks .AXGD slid 2% even as bullion edged up. GOL/

New Zealand's benchmark S&P/NZX 50 index .NZ50 ended 1.7% lower at 12,531.72.

($1 = A$1.5676)

(Reporting by Sherin Sunny in Bengaluru; Editing by Sumana Nandy)

((Sherin.Sunny@thomsonreuters.com))

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