* Financials, healthcare, industrials lead gains in
* Material sector hurt as commodity prices dropped
* NZ hits 1-week high
By Christina Martin
March 9 (Reuters) - Australian shares inched up on Friday asfinancials led the gains but material stocks put pressure on thecontributed to weakness in commodity prices.
The S&P/ASX 200 index rose 0.3 percent, or 19.3points, to 5,962.2 by 1242 GMT, on track for a third weekly gainin four. The benchmark closed up 0.7 percent on Thursday.
"We've got conflicting indicators for Australian sharestoday... Most of the sectors are in positive territory, withgeneral index buying and financial stocks up modestly," saidMichael McCarthy, chief market strategist at CMC Markets.
"At the other end of the spectrum, energy and materialsectors are dragging. We've seen a very significant downdraft incommodity prices overnight, and it's those commodity-exposedsectors that are keeping the performance tight."
Financial stocks edged up as much as 0.5 percent,with Commonwealth Bank of
The other three "Big Four" banks crept up by between 0.1 and0.3 percent.
Healthcare and industrial stocks also supported
The biggest advancer on the main index was mortgageinsurance lender Genworth Mortgage Insurance Australia Ltd, scaling up as much as 6 percent to its highest in overa week.
The material sector slid for a third straightsession, down as much as 0.6 percent to a four-week low, as aslip in commodity prices dragged stocks.
Nickel prices slumped on Thursday along with otherindustrial metals on worries over a potential global trade warcurbing economic growth and metals demand.
Chinese steel and iron ore futures tumbled almost 4 percenton Thursday, while oil prices fell and were headed for a secondstraight weekly drop.
Index heavyweights BHP Billiton Ltd and Rio Tintofell as much as 1 percent and 0.7 percent,respectively.
BHP hit its lowest in more than 11 weeks.
Gold stocks also dropped as prices of the yellowmetal fell, with the gold index down as much as 0.4 percent.
Meanwhile,
NZX Ltd was the top gainer on the index, rising asmuch as nearly 2 percent to post its biggest intraday percentagegain in more than one week.(Reporting by Christina Martin in Bengaluru)