ASX 200 Ends Lower; Inflation Highest Since GST

By the end of the trading session on 27 April 2022, the benchmark index S&P/ASX 200 slipped 0.78% and settled at 7261.20. 7 out of 11 sectors closed lower along with the ASX 200. The Information Technology and Consumer Staples are the top two loser sectors, which declined 2.43% and 1.87% in their index values. While on the other hand, the Energy and Utilities sector were the top bright sectors, which gained 0.97% and 0.55% in their index values, respectively.

Information Technology sector tumbled due to the heavy sell off. It appears that the investors are worried about the prospect of economic recession in US.

Whitehaven Coal Limited (ASX: WHC) and Downer Edi Limited (ASX: DOW) were the top gainers with 5.454% and 4.715% growth in the share prices, respectively. On the other hand, Life360 INC (ASX: 360) and Credit Corp Group Limited (ASX: CCP) were the top losers with 29.401% and 9.500% drop in the share price respectively.

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Top Performers for the day:

• Energy (Up 0.97%)
• Utilities (Up 0.55%)

Top Loser for the day:

• Information Technology (Down 2.43%)
• Consumer Staples (Down 1.87%)

Other Factors influencing the market:

• Australia’s consumer price index rises to 5.1% in the March quarter, against the forecast of 4.6%. Consumer prices rose by 2.1% on the quarterly basis as compared to forecast of a rise of 1.7%.
• The 3 year bond yield rises to 13 basis point higher to 2.73%, which is the highest level since late 2014.
• Energy sector is gaining today after the 3.2% increase in the prices of Brent crude oil and iron ore prices also gained marginally. The oil price was also driven by the recent update of China Stimulus. On Tuesday, China’s central bank updated that it will step up the prudent monetary policy to support its economy.
• Dow closed down by 2.38%, S&P 500 declined by 2.8% and NASDAQ Composite was down by 3.95%.
• The Hang Seng is up 0.32%, and the FTSE 100 is up 0.07% today.

Top 5 Gainers and Losers Scoreboard:

90 Day Average Volume Outlier:

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