ASX 200 Ended Lower By 1.12%; Weighed Down By Materials And A-REIT Sectors
By the end of the trading session on 27 February 2023, the benchmark index S&P/ASX 200 ended lower by 1.12% and settled at 7,224.80. Out of 11 sectors, 9 sectors closed lower along with the ASX 200.
The Energy and Utilities sectors were the top-gaining sectors, gaining 0.25% and 0.10% respectively in their index values. The Materials and A-REIT Sectors were the top declining sectors, declined 3.15% and 2.10% in their index values.
TGP Telecom Limited (ASX: TPG) and ComputerShare Limited (ASX: CPU) were the top gainers, with 5.932% and 2.502% growth in share prices, respectively. On the other hand, Downer EDI Limited (ASX: DOW) and Invocare Limited (ASX: IVC) were the top losers, with 23.738% and 10.850% drop in share prices, respectively.
Australian share market is sharply declining after US inflation data came in hotter than anticipated, increasing concerns that the Federal Reserve will need to keep lifting interest rates which could tip the world’s largest economy into recession.
According to interbank futures pricing, the Australian Reserve Bank is expected to increase interest rates by at least four more times, with the cash rate projected to peak at 4.4% by September 2023.
Downer EDI's stock price dropped sharply by 23.7% to $3.02, following a revision of its full-year profit forecast. The company disclosed the findings of its inquiry into discrepancies in its financial statements, resulting in the downward revision.
On Monday, oil prices experienced volatility and a slight decrease due to concerns of a possible recession and a stronger US dollar, which offset the positive impact of Russia's announcement to deepen oil supply cuts.
The Dow decreased by 1.02%, the S&P 500 decreased by 1.05%, and the NASDAQ ended the day lower by 1.69%.
The Hang Seng decreased by 0.69%, and the FTSE 100 decreased by 0.37%.
Top 5 Gainers and Losers Scoreboard:
90-Day Average Volume Outlier:
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ASX 200 Ended Lower By 1.12%; Weighed Down By Materials And A-REIT Sectors
By the end of the trading session on 27 February 2023, the benchmark index S&P/ASX 200 ended lower by 1.12% and settled at 7,224.80. Out of 11 sectors, 9 sectors closed lower along with the ASX 200.
The Energy and Utilities sectors were the top-gaining sectors, gaining 0.25% and 0.10% respectively in their index values. The Materials and A-REIT Sectors were the top declining sectors, declined 3.15% and 2.10% in their index values.
TGP Telecom Limited (ASX: TPG) and ComputerShare Limited (ASX: CPU) were the top gainers, with 5.932% and 2.502% growth in share prices, respectively. On the other hand, Downer EDI Limited (ASX: DOW) and Invocare Limited (ASX: IVC) were the top losers, with 23.738% and 10.850% 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