The benchmark S&P/ASX200 index began Monday down as much as 79.9 points, or 0.9 per cent, but clawed back those losses to finish the day up 12 points, or 0.14 per cent, to 8,308.2.
The broader All Ordinaries did finish in the red, however, dropping 10.8 points, or 0.13 per cent, to 8,560.1.
Capital.com analyst Kyle Rodda said that the market continued to look jittery against a backdrop of global trade uncertainty, upside inflation risks and a local earnings season that had provided little justification for buying into equities at current prices.
In the ASX's technology sector, WiseTech Global plunged 20.1 per cent to a six-month low of $97.25 following more turmoil at the cloud logistics platform.
WiseTech said four of its independent board members were stepping down following "intractable differences" with the ongoing role of founder Richard White.
The board had said a fortnight ago it was considering two confidential complaints - one from an employee and another from a supplier to the company - making allegations regarding Mr White, a billionaire who owns 36.9 per cent of Wisetech.
The company also announced that its revenue would be at the bottom end of its guidance, due to further delays to three "breakthrough" product launches.
Overall the tech sector had dropped 7.5 per cent, also weighed down by financial software company IRESS and analytics platform Nuix.
The former had sunk 14.5 per cent after posting its full-year results, while the latter was down 7.7 per cent on its half-year financials.
In the utility sector, APA Group climbed 7.7 per cent to a two-month high of $7.12 on the back of its half-year results.
The pipeline operator said it had grown its underlying earnings by 9.1 per cent, driven in part by strong contributions by its Pilbara business.
In the financial sector, all of the big four banks finished in the green after last week's sharp selloff.
ANZ rose 2.6 per cent to $29.55, NAB climbed 2.3 per cent to $35.90, Westpac gained 0.8 per cent to $31.28 and CBA advanced 3.0 per cent to $156.23.
Jack Dorsey's Block Inc fell 12.9 per cent to a four-month low of $108.09 after the Afterpay owner reported weak fourth-quarter earnings.
In materials, all of the big mining giants were lower. BHP dropped 1.1 per cent to $40.80, Rio Tinto fell 3.0 per cent to $119.80 and Fortescue dropped 0.8 per cent to $18.50.
Elsewhere in the sector, Perenti Limited declined 15.9 per cent to a four-month low of $1.16 after the mining services firm announced an underlying half-year profit of $81.7 million, up four per cent from a year ago.
In industrials, Reece Limited retreated 13.2 per cent to a more than one-year low of $19.05 after the plumbing products company said its sales were down three per cent to $4.4 billion in the six months to December 31.
"Our performance for the first half reflects the challenging trading environment in both regions (ANZ and the US) as mortgage rates and affordability continue to create near-term headwinds in our sector," said chairman and CEO Peter Wilson.
In currency, the Australian dollar was buying 63.77 US cents, from 63.90 US cents at 5pm AEDT on Friday.
ON THE ASX:
* The benchmark S&P/ASX200 index on Monday gained 12 points, or 0.14 per cent, to 8,308.2
* The broader All Ordinaries fell 10.8 points, or 0.13 per cent, to 8,560.1
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 63.77 US cents, from 63.90 US cents at 5pm AEDT on Friday
* 95.27 Japanese yen, from 96.08 yen
* 60.66 euro cents, from 60.92 euro cents
* 50.33 British pence, from 50.48 pence
* 110.78 NZ cents, from 110.92 NZ centsÂ
