ASX/200 Closed Higher By 0.68%; Lifted by Information Technology

By the end of the trading session on 11 October 2023, the benchmark index S&P/ASX 200 ended higher by 0.68% and settled at 7,088.40. All 11 sectors closed higher along with the ASX 200.

Information Technology and Consumer Discretionary sectors were the top-gaining sector, gaining 1.70% and 1.23% respectively in their index values.

Bega Cheese Limited (ASX: BGA) and Neuren Pharmaceuticals Limited (ASX: NEU) were the top gainers, with 5.747% and 5.454% growth in share prices, respectively. Bank of Queensland Limited (ASX: BOQ) and Chalice Mining Limited (ASX: CHN) were the top losers, with 7.440% and 4.202% drop in share prices, respectively.

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Top gainer for the day:

• Information Technology (Up 1.70%)
• Consumer Discretionary (Up 1.23%)

Other Factors influencing the market:

• BOQ suffered the most significant decline on the ASX, with its shares hitting their lowest level since late June. A breach below $5.32 would target levels not witnessed since June 2020.
• Qantas saw a 2.7% rally to reach $5.03 after Chairman Richard Goyder yielded to shareholder pressure and agreed to leave the airline's board next year. Two other directors will also be stepping down.
• Australian futures indicate a 38% likelihood of a rate increase to 4.35% early next year, down from 68% last week.
• Oil prices stabilized after experiencing their most significant surge in six months. This followed Hamas' unexpected attack on Israel over the weekend and the potential for new economic stimulus measures in China.
• The Dow closed with a 0.40% increase, the S&P 500 with a 0.52% gain, and the NASDAQ ended higher by 0.58%.
• The Hang Seng registered a 1.44% increase, while the FTSE 100 enjoyed a 1.82% rise today.

 Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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