ASX 200 Ended Higher By 0.05%; Buoyed By Materials And Energy Sectors
By the end of the trading session on 02 March 2023, the benchmark index S&P/ASX 200 ended higher by 3.80 points and settled at 7,255.40. Out of 11 sectors, 9 sectors closed lower along with the ASX 200.
The Materials and Energy sectors were the top-gaining sectors, gaining 2.89% and 1.44% respectively in their index values. The Financial and Consumer Staples Sector was the top declining sector, declined 1.91% and 1.31% in their index values.
South32 Limited (ASX: S32) and Nickel Industries Limited (ASX: NIC) were the top gainers, with 5.145% and 5.076% growth in share prices, respectively. On the other hand, Lynas Rare Earths Limited (ASX: LYC) and Pinnacle Investment Management Group Limited (ASX: PNI) were the top losers, with 6.810% and 6.332% drop in share prices, respectively.
The shares of Pilbara Minerals, a mining company, decreased by 3.7% to AU$4.06 following the sale of its stake in the company by Contemporary Amperex Technology (CATL).
According to the Australian Bureau of Statistics, dwelling approvals decreased by 27.6% to 12,065 units in January, with attached (apartment) approvals dropping by 40.8%, driving the decline. The surprising weakness in detached house approvals, which fell by 13.8%, was even more notable as consensus estimates had predicted a drop of 7%, while NAB had predicted a drop of 8%.
Karoon Energy Limited’s share price declined after the company said that the Brazilian government will place a temporary tax of 9.2% on oil exports. The policy is expected to result in a potential payment of US$22- US$35 million, subject to the volume of crude oil exported and oil prices.
Oil prices remained within a tight range as traders weighed the potential for a strong recovery in Chinese demand against the possibility that rising interest rates and elevated inflation could hinder economic activity this year.
The Dow closed up by 0.02%, the S&P 500 was down by 0.47%, and the NASDAQ ended lower by 0.66%. Meanwhile, the Hang Seng is down by 0.84%, and the FTSE 100 rose by 0.43%.
Top 5 Gainers and Losers Scoreboard:
90-Day Average Volume Outlier:
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ASX 200 Ended Higher By 0.05%; Buoyed By Materials And Energy Sectors
By the end of the trading session on 02 March 2023, the benchmark index S&P/ASX 200 ended higher by 3.80 points and settled at 7,255.40. Out of 11 sectors, 9 sectors closed lower along with the ASX 200.
The Materials and Energy sectors were the top-gaining sectors, gaining 2.89% and 1.44% respectively in their index values. The Financial and Consumer Staples Sector was the top declining sector, declined 1.91% and 1.31% in their index values.
South32 Limited (ASX: S32) and Nickel Industries Limited (ASX: NIC) were the top gainers, with 5.145% and 5.076% growth in share prices, respectively. On the other hand, Lynas Rare Earths Limited (ASX: LYC) and Pinnacle Investment Management Group Limited (ASX: PNI) were the top losers, with 6.810% and 6.332% drop in share prices, respectively.
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Top Gainers for the day:
Top Losers for the day:
Other Factors influencing the market:
Top 5 Gainers and Losers Scoreboard:
90-Day Average Volume Outlier:
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au