ASX/200 Closed Higher by 0.01%, Lifted by Consumer Discretionary| Kapitales Research, Australia.

ASX/200 Closed Higher by 0.01%, Lifted by Consumer Discretionary

By the end of the trading session on 13 May 2024, the benchmark index S&P/ASX 200 ended higher by 0.01% and settled at 7,750.00. Out of 11 sectors, 05 sectors closed higher along with the ASX 200.

Consumer Discretionary and Healthcare sectors were the top-gaining sectors, gaining 0.52% and 0.40% respectively in their index values. On the other hand, Energy and Information Technology sectors were the top-lossing sectors, lossing 0.73% and 0.56% respectively in their index values.

Bellevue Gold Limited (ASX: BGL) and Barcor Limited (ASX: BAP) are the top-gaining stocks, gaining 5.397% and 4.751% in their stock prices. On the other hand, Fletcher Building Limited (ASX: FBU) and De Grey Mining Limited (ASX: DEG) are the top-losing stocks and are declining by 10.870% and 5.692% in their stock prices.

Top gainer for the day:

Consumer Disretionary (Up 0.52%)
Healthcare (Up 0.40%)

Top loser for the day:

Energy (Down 0.73%)
Information Technology (Down 0.56%)

Other Factors influencing the market:

Fletcher Building experienced a significant decline, with its stock dropping nearly 11% to $2.87 on the ASX. This decline was attributed to the company revising its earnings guidance for fiscal 2024 downwards. The revision was prompted by a noticeable slowdown in house sales in New Zealand and a weaker Australian property market.
Lendlease, a property group, also witnessed a decline in its stock price, falling by 2.9% to $6.11. This decline followed the confirmation of a $112 million tax bill from the Australian Taxation Office related to a tax dispute concerning its retirement living business.
ANZ saw its stock drop by 3% to $28.21, with shares trading ex-dividend. Additionally, concerns were raised due to an investigation by the corporate regulator into potential manipulation of government debt sales by the bank's traders in the previous year.
Lower oil prices, driven by concerns about fuel demand, negatively impacted the energy sector. Brent crude fell by 0.4% to $US82.45, while West Texas crude also declined by 0.4% to $US78.
In the broader market, the Dow closed up by 0.32%, the S&P 500 closed higher by 0.16%, and the NASDAQ ended slightly lower by 0.03%.
Overseas, the Hang Seng index saw an increase of 0.62%, while the FTSE 100 rose by 0.63% on the day.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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