ASX/200 Closed higher by 0.07%, Lifted by Financial

By the end of the trading session on 18 March 2024, the benchmark index S&P/ASX 200 ended higher by 0.07% and settled at 7,675.80. Out of 11 sectors, 06 closed higher along with the ASX 200.

Financial and Industrial were the top-gaining sectors, gaining 0.45% and 0.31% respectively in their index values. A-REIT and Energy were the top-losing sectors, losing 1.87% and 0.34% respectively in their index values.

South32 Limited (ASX: S32) and Iluka Resources Limited (ASX: ILU) were the top gainers, with 4.666% and 4.227% growth in share prices, respectively. On the other hand, Strike Energy Limited (ASX: STX) and Audinate Group Limited (ASX: AD8) were the top losers, with 8.654% and 5.449% drop in share prices, respectively.

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Top gainer for the day:

• Financial (Up 0.45%)
• Industrials (Up 0.31%)

Top loser for the day:

• A-REIT (Down 1.87%)
• Energy (Down 0.34%)

Other Factors influencing the market:

• South32 suspended operations at its manganese mine on Groote Eylandt due to damage caused by tropical cyclone Megan. Despite this development, South32 shares surged by 3.5% to $3.10.

• Southern Cross Austereo is exploring its options following shareholders' move to convene a meeting aimed at removing Chairman Rob Murray. This action comes amidst a proposed buyout bid from competitor ARN Media.
• Mineral Resources is poised to acquire the Lake Johnston nickel concentrator plant and tenure in Western Australia from Poseidon Nickel, another ASX-listed company.
• Oil prices edged higher after experiencing the largest weekly increase in a month. This rise followed favorable macroeconomic data from China and Ukrainian attacks on Russian refineries, elevating geopolitical tensions.
• The Dow Jones Industrial Average closed down by 0.49%, the S&P 500 decreased by 0.65%, and the NASDAQ saw a decline of 0.96%.
• The Hang Seng Index rose by 0.18%, while the FTSE 100 experienced a slight decline of -0.20% for the day.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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