ASX 200 slipped 0.98%; 10 Out Of 11 Sectors Closed Lower
By the end of the trading session on 10 May 2022, the benchmark index S&P/ASX 200 slipped 0.98% and settled at 7051.20. 10 out of 11 sectors closed lower along with the ASX 200. The Materials and Energy sectors are the top 2 losing sectors, declined 2.38% and 2.09% in their index value. On the other hand, the Telecommunication Services sector is the only one gaining sector, gained 0.35% in its index values.
The S&P/ASX 200 has been dragged down by sell-off across the Materials, Energy, and Consumer Staples sectors. Energy stocks fell after the oil prices tumbled more than 1% on fears about slowing demand from top importer China as it has tightened lockdowns to curb the spread of COVID-19.
Polynovo Limited (ASX: PNV) and Pendal Group Limited (ASX: PDL) were the top gainers with 15.591% and 8.113% growth in share prices, respectively. On the other hand, AUB Group Limited (ASX: AUB) and Chalice Mining Limited (ASX: CHN) were the top losers, with a 11.763% and 6.740% drop in the share price, respectively.
Growing fears of recession and China tightened COVID-19 curbs dragged down commodity-linked currencies and oil prices.
Growth worries resurfaced after the central banks in the United States, Britain, and Australia increased interest rates last week.
The Australian shares dropped to their lowest in three months, mirroring Wall Street's worries about global growth as China intensifies its Zero-Covid policy and aggressive interest rate hikes.
US Fed warned of deteriorating market liquidity conditions across key financial markets due to rising risk from war in Ukraine, monetary tightening and high inflation.
Market sentiment is weak on recession fears.
Dow has closed down by 2.0%, S&P 500 declined by 3.2%, and NASDAQ closed down by 4.3%.
Hang Seng is down by 1.84%, and FTSE 100 is down by 2.32%.
Top 5 Gainers and Losers Scoreboard:
90 Day Average Volume Outlier:
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ASX 200 slipped 0.98%; 10 Out Of 11 Sectors Closed Lower
By the end of the trading session on 10 May 2022, the benchmark index S&P/ASX 200 slipped 0.98% and settled at 7051.20. 10 out of 11 sectors closed lower along with the ASX 200. The Materials and Energy sectors are the top 2 losing sectors, declined 2.38% and 2.09% in their index value. On the other hand, the Telecommunication Services sector is the only one gaining sector, gained 0.35% in its index values.
The S&P/ASX 200 has been dragged down by sell-off across the Materials, Energy, and Consumer Staples sectors. Energy stocks fell after the oil prices tumbled more than 1% on fears about slowing demand from top importer China as it has tightened lockdowns to curb the spread of COVID-19.
Polynovo Limited (ASX: PNV) and Pendal Group Limited (ASX: PDL) were the top gainers with 15.591% and 8.113% growth in share prices, respectively. On the other hand, AUB Group Limited (ASX: AUB) and Chalice Mining Limited (ASX: CHN) were the top losers, with a 11.763% and 6.740% drop in the share price, respectively.
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Top Performers for the day:
Top Loser for the day:
Other Factors influencing the market:
Top 5 Gainers and Losers Scoreboard:
90 Day Average Volume Outlier:
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Suite 1A, Level 2, 802-808 Pacific Highway, Gordon NSW 2072, Australia | 1800 005 780 | info@kapitales.com.au.au