Market Alert : Global Sell-Off Extends: Liquidity Fears and Growth Concerns Dominate

ASX/200 Closed Lower By 0.74%; Dragged down by Information Technology

By the end of the trading session on 13 September 2023, the benchmark index S&P/ASX 200 ended lower by 0.74% and settled at 7,153.90. Out of 11 sectors, 02 sectors closed higher along with the ASX 200.

Information Technology and Industrials sectors were the top-gaining sectors, gaining 1.65% and 1.28% respectively in their index values. Energy and Utilities sectors were the top-declining sectors, gaining 0.26% and 0.18% respectively in their index values.

Bapcor Limited (ASX: BAP) and Capricorn Metals Limited (ASX: CMM) were the top gainers, with 3.357% and 3.095% growth in share prices, respectively. IGO Limited (ASX: IGO) and Eagers Automotive Limited (ASX: APE) were the top losers, with 7.720% and 4.471% drop in share prices, respectively.

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Top gainer for the day:

  • Information Technology (Up 1.65%)
  • Industrials (Down 1.28%)

Top loser for the day:

  • Energy (Down 0.26%)
  • Utilities (Down 0.18%)

 

Other Factors influencing the market:

  • IGO, which began ex-dividend trading on Wednesday, experienced the most significant decline on the benchmark, with a 7.6% drop in its performance.
  • Viva Energy saw a 2.4% decrease as the fuel retailer confirmed that its major shareholder, Vitol, was selling 16% of its stake in the company.
  • Dreadnought Resources recorded a 1.9% increase following the release of impressive high-grade neodymium and praseodymium results from its project based in Western Australia.
  • Oil prices have stabilized after reaching a 10-month high, driven by forecasts from OPEC and the US predicting output cuts that will tighten the market in the coming months.
  • In the realm of stock markets, the Dow registered a 0.22% gain, the S&P 500 displayed a 0.14% increase, and the NASDAQ exhibited a 0.09% rise in value.
  • Meanwhile, the Hang Seng experienced a -0.29% decline, while the FTSE 100 showed a 0.41% increase today.

 Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

 

 

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