ASX/200 Closed higher by 0.61%, Lifted by Materials

By the end of the trading session on 01 March 2024, the benchmark index S&P/ASX 200 ended higher by 0.61% and settled at 7,745.60. Out of 11 sectors, 08 closed higher along with the ASX 200.

Materials and Information Technology sectors were the top-gaining sectors, gaining 1.99% and 1.87% respectively in their index values. On the other hand, Healthcare and Telecommunication Services sector was the top-losing sector, losing 1.52% and 0.66% respectively in their index values.

Life 360 Inc. (ASX: 360) and Core Lithium Limited (ASX: CXO) were the top gainers, with 38.480% and 14.285% growth in share prices, respectively. On the other hand, Collins Foods Limited (ASX: CKF) and Bega Cheese Limited (ASX: BGA) were the top losers, with 8.000% and 5.701% drop in share prices, respectively.

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Top gainer for the day:

• Materials (Up 1.99%)
• Information Technology (Up 1.87%)

Top loser for the day:

• Healthcare (Down 1.52%)
• Telecommunications Services (Down 0.66%)

Other Factors influencing the market:

• Mobile app Life360 witnessed a significant surge of 38.5% to reach $11.30, following its announcement that over 61 million individuals utilize its platform monthly for tracking friends and family members.
• The company's revenue experienced a notable increase of 33% to $305 million, with a positive adjusted EBITDA (operating income) of $20.6 million, surpassing earlier guidance ranging from $12 million to $16 million.
• In the resources sector, lithium miners saw a substantial rise as benchmark futures for the battery metal traded in China extended a week-long rebound, contributing to a 1.99% increase in the sector.
• Oil prices exhibited a slight decline on Thursday, influenced by US inflation data suggesting a potential softening in the world's largest economy, which could dampen crude demand. Additionally, rising OPEC production exerted pressure on prices.
• Market indices showed mixed performance: the Dow closed up by 0.12%, the S&P 500 rose by 0.52%, and the NASDAQ concluded the session higher by 0.90%.
• Internationally, the Hang Seng recorded an increase of 0.29%, while the FTSE 100 saw a modest rise of 0.07% for the day.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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