ASX/200 Closed Higher By 0.41%; Lifted by Financial| Kapitales Research, Australia.

ASX/200 Closed Higher By 0.41%; Lifted by Financial

By the end of the trading session on 06 October 2023, the benchmark index S&P/ASX 200 ended higher by 0.41% and settled at 6,954.20. Out of 11 sectors, 04 sectors closed higher along with the ASX 200.

Financial and Material sectors were the top-gaining sector, gaining 1.21% and 0.67% respectively in their index values. Energy and Information Technology were the top-declining sectors, gaining 0.76% and 0.41% respectively in their index values.

Ramelius Resources Limited (ASX: RMS) and De Grey Mining Limited (ASX: DEG) were the top gainers, with 6.020% and 3.240% growth in share prices, respectively. Megellan Financial Limited (ASX: MFG) and Pexa Group Limited (ASX: PXA) were the top losers, with 18.502% and 7.432% drop in share prices, respectively.

Top gainer for the day:

Financial (Up 1.21%)
Materials (Up 0.67%)

Top loser for the day:

Energy (Down 0.76%)
Information Technology (Down 0.41%)

Other Factors influencing the market:

Magellan Financial Group's shares tumbled by 13% as it reported a significant $4 billion decline in funds under management for September, making it the ASX 200's weakest performer during this period.
Rio Tinto extended a loan of $US100 million ($157 million) to the Chinese and Singaporean firms responsible for constructing railways and ports for the Simandou iron ore project in Guinea.
Westpac has reached a critical juncture in its turnaround efforts, potentially rectifying 15 years of underinvestment in its technology systems.
Oil prices are on track for their most substantial weekly drop since March due to concerns about the global economy, which has cast a shadow over the demand outlook.
In the stock market, the Dow experienced a marginal decrease of 0.03%, the S&P 500 saw a decline of 0.13%, and the NASDAQ closed lower by 0.12%.
On the international front, the Hang Seng index surged by 1.55%, while the FTSE 100 in the UK recorded a 0.53% gain for the day.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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