ASX/200 Closed higher by 1.47%; lifted by A-REIT

By the end of the trading session on 02 February 2024, the benchmark index S&P/ASX 200 ended higher by 1.47% and settled at 7,699.40. Out of 11 sectors, 10 closed higher along with the ASX 200.

A-REIT and Information Technology sectors were the top-gaining sectors, gaining 3.37% and 3.13% respectively in their index values. On the other hand, the Utilities sector was the top-losing sector, losing 0.41% respectively in their index values.

Pinnacle Investment Management Group Limited (ASX: PNI) and Boss Energy Limited (ASX: BOE) were the top gainers, with 8.617% and 7.950% growth in share prices, respectively. Chalice Mining Limited (ASX: CHN) and AGL Energy Limited (ASX: AGL) were the top losers, with 7.844% and 4.333% drop in share prices, respectively.

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Top gainer for the day:

• A-REIT (Up 3.37%)
• Information Technology (Down 3.13%)

Top loser for the day:

• Utilities (Down 0.41%)

Other Factors influencing the market:

• Pinnacle, the asset manager, experienced an 8.6% surge as it disclosed that affiliates' funds under management surpassed $100 billion in December. Additionally, the company reported a stable half-year profit.
• Atlassian witnessed a fluctuation in its shares following the revelation of a net loss of $US84.5 million, despite a 21% increase in sales amounting to $US1.06 billion.
• Meta's shares exhibited a remarkable 15% surge in after-hours trading. This surge was triggered by the company's robust sales guidance for the March quarter, which exceeded analysts' estimates. Moreover, Meta declared a quarterly dividend.
• OPEC implemented a reduction in oil production last month as part of a new initiative by the group and its allies. The goal is to prevent a global surplus and stabilize oil prices.
• The Dow concluded with a 0.97% increase, the S&P 500 rose by 1.25%, and the NASDAQ saw a higher closing with a 1.30% gain.
• The Hang Seng experienced a modest increase of 0.13%, while the FTSE 100 reported a slight decline of -0.11% for the current day.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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