ASX/200 Closed Higher by 0.19%, Lifted by Telecommunication Services

By the end of the trading session on 15 August 2024, the benchmark index S&P/ASX 200 ended Higher by 0.19% and settled at 7865.50. Out of 11 Sectors, 6 ended higher along with the S&P/ASX 200.

Telecommunication Services and Industrials are the top-gaining sectors, gaining 1.69% and 1.15% in their index values. Utilities and Materials are the top-loosing sectors, looing 4.06% and 1.20% in their index values.

Nrw Holdings Limited (ASX: NWH) and Financial Group Limited (ASX: MFG) are the top-gaining stocks, gaining 9.717% and 7.628% in their stock prices. On the other hand, Nufarm Limited (ASX: NUF) and Origin Energy Limited (ASX: ORG) went down by 9.795% and 9.434% respectively are the top-losing stocks.

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Top gainer for the day:

• Telecommunication Services (Up 1.69%)
• Industrials (Up 1.15%)

Top loser for the day:

• Utilities (Down 4.06%)
• Materials (Down 1.20%)

Other Factors influencing the market:

• The share market edged higher for a fifth consecutive session on Thursday, despite a busy day of company results and ongoing losses in the mining sector.
• BHP shares fell another 1% to AU$39.21, marking their lowest level since 2022. Rio Tinto dropped 3.6% to AU$108.40, and Fortescue Metals Group declined 2.9% to AU$16.82.
• On Wall Street, stocks rose after US inflation eased to 2.9% in July, its lowest level since March 2021, which likely keeps the Federal Reserve on track to cut rates in September.
• The best-performing stock on the S&P/ASX 200 was NRW Holdings, which jumped 9.7% to a 52-week high of AU$3.50 after posting an 18.6% increase in net profit to AU$123.8 million.
• The worst-performing sector was utilities, falling over 4%, driven by a 9.4% decline in Origin Energy to AU$9.60, despite the company reporting a 32% rise in net profit for the year to June 30. CEO Frank Calabria warned of softer energy market profits for the coming year, similar to rival AGL.
• Brent and U.S. crude oil futures rose for the fifth straight session, with Brent at AU$ 80.54 and WTI at AU$ 77.90, driven by easing U.S. recession fears and supply risks in the Middle East​.
• The Dow has closed up by 0.61%, the S&P 500 closed up by 0.38%, and the NASDAQ ended higher by 0.029%.
• Hang Seng is down by 0.022%, and FTSE 100 is up by 0.097%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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