ASX 200 Closed Lower By 1.02%; Dragged Down By IT and Materials Sectors

By the end of the trading session on 20 October 2022, the benchmark index S&P/ASX 200 ended lower by 1.02% and settled at 6,730.70. Out of 11 sectors, 9 sectors closed lower along with the ASX 200.

The Energy and Financials sectors were the top 2 gaining sectors, gained 3.13% and 0.04% in their index values. On the other hand, Information Technology and Materials sectors were the top 2 declining sectors, declined by 3.76% and 2.43% in their index values.

Novonix Limited (ASX: NVX) and Adbri Limited (ASX: ABC) were the top gainers, with 7.042% and 6.761% growth in share prices, respectively. On the other hand, Sandfire Resources Limited (ASX: SFR) and Megaport Limited (ASX: MP1) were the top losers, with a 13.228% and 11.801% drop in share prices, respectively.

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Top Performers for the day:

• Energy (Up 3.13%)
• Financials (Up 0.04%)

Top Loser for the day:                                    

• Information Technology (Down 3.76%)
• Materials (Down 2.43%)

Other Factors influencing the market:

• S&P/ASX 200 closed lower, taken direction from losses on Wall Street, as Inflation concerns and renewed worries about further historic rate rises offset positive earnings.
• Woodside Energy’s share price jumped 6.18% after it increased its guidance for full-year production after posting record output in the September quarter that contributed to an all-time high in sales.
• Santos Limited gained following posting record sales for both the September quarter and the year to date, with free cash flow topping $US1 billion (AU$1.6 billion) for the three-month period.
• Evolution Mining Limited plunged after flagging that its production would ease for the remainder of 2023.
• Oil prices rose today as optimism over an unexpected draw in U.S. inventories offset plans by the Biden administration to release more oil from strategic reserves. However, fears of sluggish global demand and a strong dollar kept sentiment cautious.
• Dow has closed down by 0.3%, S&P 500 down by 0.7%, and NASDAQ closed lower by 0.9%.
• Hang Seng is down by 1.77%, and FTSE 100 is down by 0.17%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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