ASX/200 Closed Higher by 0.15%, Lifted by Information Technology

By the end of the trading session on 05 December 2024, the benchmark index S&P/ASX 200 closed higher by 0.15% and settled at 8,474.90. Out of 11 sectors, 06 sectors ended higher along with the S&P/ASX 200.

Information Technology and Consumer Discretionary are the top-gaining sectors, gaining 1.13% and 1.08% in their index value. On the other hand, A-REIT and Energy are the top-losing sectors, losing 1.34% and 0.95% in their index value.

Genesis Minerals Limited (ASX: GMD) and Ramelius Resources Limited (ASX: RMS) are the top-gaining stocks, gaining 9.128% and 8.530% in their stock prices. On the other hand, Liontown Resources Limited (ASX: LTR) and Lifestyle Communities Limited (ASX: LIC) went down by 6.475% and 4.442% respectively are the top-losing stocks.

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Top gainer for the day:

• Information Technology  (Up 1.13%)
• Consumer Discretionary (Up 1.08%)

Top loser for the day:

• A-REIT (Down 1.34%)
• Energy (Down 0.95%)

Other Factors influencing the market:

• HMC Capital Acquisition: HMC Capital's shares rose 1.7% to $12.40 following its announcement to acquire Neoen's Victorian renewable energy assets for $950 million.
• Rio Tinto's Copper Expansion: Rio Tinto revealed plans to increase its copper production by 18% in 2024 and by 40% by 2030, aiming to reduce reliance on Australian iron ore.
• Bitcoin Milestone: Bitcoin crossed the $100,000 mark for the first time, breaking a significant psychological barrier, with bullish investors anticipating a continued surge.
• Wesfarmers Leadership Update: Aleksandra Spaseska was promoted to lead Kmart’s discount department stores division, taking over from Ian Bailey, who will now chair the growing Anko Global homewares brand.
• Tech Shares Lift ASX: A rally in technology stocks pushed the Australian sharemarket higher, mirroring Wall Street’s strong performance as the S&P 500 marked its 56th record high of the year.
• Oil Prices Decline: Oil prices dropped due to weak US economic data and technical challenges, overshadowing OPEC+’s progress on limiting supply.
• Global Market Overview: The Dow Jones gained 0.69%, the S&P 500 rose 0.61%, and the NASDAQ advanced 1.30%. 
• In contrast, the Hang Seng dropped by 1.12%, and the FTSE 100 declined by 0.28%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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