ASX/200 Closed Higher by 0.13%, Lifted by Information Technology

By the end of the trading session on 09 October 2024, the benchmark index S&P/ASX 200 closed higher by 0.13% and settled at 8,187.40. Out of 11 sectors, 08 sectors ended higher along with the S&P/ASX 200.

Information Technology  and Telecommunications Services are the top- gaining sectors, gaining 1.41% and 1.41% in their index value. Whereas, Energy and Materials are the top-losing sectors, losing 2.45% and 1.39% in their index value.

Zip Co. Limited (ASX: ZIP) and Block Inc (ASX: SQ2) are the top-gaining stocks, gaining 6.250% and 4.351% in their stock prices. On the other hand, Mineral Resources Limited  (ASX: MIN) and Liontown Resources Limited (ASX: LTR) went down by 6.422% and 5.390% respectively are the top-losing stocks.

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Top gainer for the day:

• Information Technology  (Up 1.41%)
• Telecommunications Services (Up 1.40%)

Top loser for the day:

• Energy (Down 2.45%)
• Materials (Down 1.39%)

Other Factors influencing the market:

• Utility Stocks Rally: Utility stocks experienced gains, led by a 2.6% increase in APA Group, which closed at $7.59 following a provisional decision by the Australian Energy Regulator to avoid imposing stricter price regulations on the South West Queensland Pipeline.
• Rio Tinto Acquires Arcadium Lithium: Rio Tinto announced it will acquire Arcadium Lithium for approximately $US6.7 billion ($9.9 billion). The deal has received approval from the boards of both companies.
• Mineral Resources Decline: Mineral Resources saw a significant decline of 6.4%, closing at $47.94, making it the worst performer on the ASX 200.
• Gas Supply Outlook Improves: The provisional decision not to enforce tougher price regulations on the primary pipeline transporting gas from Queensland to the southern states has raised hopes for improved gas supplies in Victoria and New South Wales.
• Oil Prices Stabilize: Oil prices steadied after a sharp drop in the previous session, which marked the largest decline in over a year, amid concerns regarding China's economic outlook and geopolitical tensions involving Iran.
• U.S. Markets Performance: The Dow Jones Industrial Average rose by 0.30%, the S&P 500 increased by 0.97%, and the NASDAQ climbed by 1.45%.
• International Market Trends: The Hang Seng index fell by 9.41%, while the FTSE 100 declined by 1.36%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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