ASX 200 Ended Lower By 0.38%; RBA Raises Cash Rate By 50 BP
By the end of the trading session on 06 September 2022, the benchmark index S&P/ASX 200 ended lower by 0.38% and settled at 6,826.50. Out of 11 sectors, 7 sectors closed lower along with the ASX 200.
The Information Technology and Energy sectors were the top 2 gaining sectors, gained 0.67% and 0.50% in their index values. On the other hand, the Utilities and Materials sectors were the top 2 declining sectors, declined by 1.86% and 0.70% in their index values.
Paladin Energy Limited (ASX: PDN) and Pilbara Minerals Limited (ASX: PLS) were the top gainers, with 7.784% and 7.027% growth in share prices, respectively. On the other hand, Super Retail Group Limited (ASX: SUL) and Codan Limited (ASX: CDA) were the top losers, with a 6.214% and 5.630% drop in share prices, respectively.
S&P/ASX 200 dropped sharply after RBA decided to increase the cash rate target by 50 basis points to 2.35%. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 2.25%.
The Australian dollar touched higher at US68.11¢, from US68.01¢, after the Reserve Bank lifted the cash rate, as expected, by 0.5% to 2.35% at its monthly policy meeting.
Lithium stocks gained after several broker upgrades; Core Lithium rose 9.9% to $1.49; Lake Resources added 9.6% to $1.20; Pilbara Minerals gained 7% to $3.96.
Australia’s current account surplus increased to $18.3 billion in the June quarter, marking its thirteenth consecutive surplus, which is the longest period on record.
Oil prices gained after OPEC+ announced that it would trim production levels to offset a drop in prices amid fears of slowing demand and economic growth.
Hang Seng is up by 0.02%, and FTSE 100 is up by 0.02%.
Top 5 Gainers and Losers Scoreboard:
90-Day Average Volume Outlier:
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ASX 200 Ended Lower By 0.38%; RBA Raises Cash Rate By 50 BP
By the end of the trading session on 06 September 2022, the benchmark index S&P/ASX 200 ended lower by 0.38% and settled at 6,826.50. Out of 11 sectors, 7 sectors closed lower along with the ASX 200.
The Information Technology and Energy sectors were the top 2 gaining sectors, gained 0.67% and 0.50% in their index values. On the other hand, the Utilities and Materials sectors were the top 2 declining sectors, declined by 1.86% and 0.70% in their index values.
Paladin Energy Limited (ASX: PDN) and Pilbara Minerals Limited (ASX: PLS) were the top gainers, with 7.784% and 7.027% growth in share prices, respectively. On the other hand, Super Retail Group Limited (ASX: SUL) and Codan Limited (ASX: CDA) were the top losers, with a 6.214% and 5.630% drop in share prices, respectively.
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Top Performers for the day:
Top Loser 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.au