ASX/200 Closed Higher by 1.25%, Lifted by Information Technology

By the end of the trading session on 09 August 2024, the benchmark index S&P/ASX 200 ended Higher by 1.25% and settled at 7777.70. All 11 Sectors ended higher along with the S&P/ASX 200.

Information Technology and A-REIT are the top-gaining sectors, gaining 3.08% and 2.56% in their index value.

Life360 Inc (ASX: 360) and IDP Education Limited (ASX: IEL) are the top-gaining stocks, gaining 18.090% and 7.879% in their stock prices. On the other hand, Neuren Pharmaceuticals Limited (ASX: NEU) and Light & Wonder Inc (ASX: LNW) went down by 5.501 % and 3.047% respectively are the top-losing stocks.

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Top gainer for the day:

• Information Technology (Up 3.06 %)
• A-REIT (Up 2.56%)

Other Factors influencing the market:

• Australian shares rose by 1.3% on Friday, concluding a tough week for global markets positively, as upbeat economic data eased recession concerns for the US.
• Damien Klassen from Nucleus Wealth described the current global earnings season as one of the best in recent years, though he noted that valuations are high.
• The mining sector experienced gains on Friday, driven by a rebound in iron ore prices. Rio Tinto (ASX: RIO) rose by 2% to AU$116.47, BHP (ASX: BHP) added 1.6% to AU$40.86, and Fortescue (ASX: FMG) climbed 2.2% to AU$18.49.
• The September iron ore futures contract increased by 2.8% to US$102.25 per tonne in early Singapore trade, recovering from a dip below US$100 due to steel output curbs in China.
• The big four banks saw gains, with ANZ (ASX: ANZ) up 1.1% to AU$27.96.
• Insurance group QBE (ASX: QBE) struggled, closing 1.7% lower at AU$16.05 due to a slight miss in net profit and guidance.
• REA Group (ASX: REA) surged 6.8% to AU$202.36 after reporting increased profit and dividend, attributed to higher home listings.
• Nick Scali (ASX: NCK) ended 0.1% higher at AU$14.84, recovering from early losses despite a significant slump in full-year profit.
• Oil prices closed higher in the previous session for the third consecutive session, after US jobs data eased demand concerns and war in the Middle East helped prices recover from an eight-month low on Monday.
• The Dow has closed up by 1.76%, the S&P 500 closed up by 2.30%, and the NASDAQ ended higher by 2.86%.
• Hang Seng is up by 0.08%, and FTSE 100 is down by 0.27%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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