ASX 200 Ended Higher By 0.25%; Buoyed By Energy And Materials Sectors

By the end of the trading session on 05 September 2022, the benchmark index S&P/ASX 200 ended higher by 0.34% and settled at 6,852.20. Out of 11 sectors, 7 sectors closed lower despite the gain in the ASX 200.

The Energy and Materials sectors were the top 2 gaining sectors, gained 3.78% and 1.75% in their index values. On the other hand, the Information Technology and Telecommunication Services sectors were the top 2 declining sectors, declined by 0.99% and 0.92% in their index values.

Whitehaven Coal Limited (ASX: WHC) and Paladin Energy Limited (ASX: PDN) were the top gainers, with 6.524% and 6.369% growth in share prices, respectively. On the other hand, Imugene Limited (ASX: IMU) and PointsBet Holdings Limited (ASX: PBH) were the top losers, with an 8.164% and 6.438% drop in share prices, respectively.

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Top Performers for the day:

• Energy (Up 3.78%)
• Materials (Up 1.75%)

Top Loser for the day:                                    

• Information Technology (Down 0.99%)
• Telecommunication Services (Down 0.92%)

Other Factors influencing the market:

• S&P/ASX 200 gained despite a weak lead from Wall Street as markets brace for the Reserve Bank to lift its benchmark rate for a fifth straight month.
• Whitehaven Coal Limited’s share price jumped more than 6% as coal prices climbed in response to the energy crisis in Europe.
• PointsBet Holdings Limited and Zip Co Limited's share prices declined following the news that both stocks will be removed from the S&P/ASX 200 index in two weeks after S&P Dow Jones’ quarterly rebalance.
• The energy sector gained as oil prices jumped more than $1 a barrel today, extending gains as investors eyed possible moves by OPEC producers to tweak production and support prices at a meeting later in the day.
• The U.S. dollar touched a 20-year high against a basket of currencies today, benefiting from weakness in the euro amid a worsening energy crisis. At the same time, investors continued to bet on more interest rate hikes by the Federal Reserve.
• Dow has closed down 1.1%, S&P 500 down by 1.1%, and NASDAQ closed lower by 1.3%.
• Hang Seng is down by 0.88%, and FTSE 100 is up by 1.86%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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