ASX/200 Closed Lower By 0.35%; Dragged down by Information Technology

By the end of the trading session on 16 October 2023, the benchmark index S&P/ASX 200 ended lower by 0.35% and settled at 7,026.50. Out of 11 sectors, 08 sectors closed lower along with the ASX 200.

Energy and Materials sectors were the top-gaining sectors, gaining 0.63% and 0.40% respectively in their index values. Information Technology and Industrials sectors were the top-declining sectors, gaining 2.79% and 0.98% respectively in their index values.

Regis Resource Limited (ASX: RRL) and West African Resources Limited (ASX: WAF) were the top gainers, with 5.844% and 4.895% growth in share prices, respectively. Fletcher Building Limited (ASX: FBU) and Reliance World Limited (ASX: RWC) were the top losers, with 8.642% and 4.620% drop in share prices, respectively.

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Top gainer for the day:

• Energy (Up 0.63%)
• Materials (Up 0.40%)

Top loser for the day:

• Information Technology (Down 2.79%)
• Industrials (Down 0.98%)

Other Factors influencing the market:

• Qantas experienced a 2.4% decline, trading at $4.90, while the company's Loyalty CEO, Olivia Wirth, tendered her resignation.
• Treasury Wine Estates saw a 1.3% increase, reaching $11.59, as the winemaker reported that its performance in the September quarter aligned with the company's expectations.
• Iron ore futures on the Singapore exchange exhibited a 1.2% rise, reaching $US115.65 per tonne based on the November contract, resulting in a 0.4% increase for BHP Group, with the stock trading at $45.18.
• Oil prices remained relatively stable amid ongoing geopolitical tensions in the Gaza Strip, where Israel had yet to launch its anticipated ground offensive, and the United States escalated efforts to prevent the crisis from escalating into a regional conflict.
• The Dow Jones Industrial Average closed with a 0.12% increase, while the S&P 500 experienced a 0.50% decline, and the NASDAQ ended the day with a 1.23% decrease.
• On the global front, the Hang Seng index witnessed a 1.06% decline, and the FTSE 100 in the United Kingdom also registered a 0.59% decrease on the same trading day.

 Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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