ASX/200 Closed Higher by 0.28%, Lifted by A-REIT

By the end of the trading session on 01 August 2024, the benchmark index S&P/ASX 200 ended Higher by 0.28% and settled at 8114.70. Out of 11 sectors, 9 ended higher along with the S&P/ASX 200.

A-REIT and Information Technology are the top-gaining sectors, gaining 1.74% and 1.62% in their index value. Financial and Industries sectors were the top declining sectors, declining by 0.37% and 0.23% in their index values.

Zip Co Limited (ASX: ZIP) and Life360 Inc. (ASX: 360) are the top-gaining stocks, gaining 5.235 % and 4.770% in their stock prices. On the other hand, Red 5 Limited (ASX: RED) and Credit Corp Group Limited (ASX: CCP) went down by 5.129 % and 4.937 % respectively are the top-losing stocks.

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Top gainer for the day:

• A-REIT (Up 1.74%)
• Information Technology (Up 1.62 %)

Top Loser for the day:        

• Financial (Down 0.37%)
• Industries (Down 0.23%)

Other Factors influencing the market:

• The Australian share market closed at a record level on Thursday, spurred by hopes of a US Federal Reserve rate cut in September.
• Fed chairman Jerome Powell's comments that a September rate cut is “on the table” further buoyed hopes.
• Rate-sensitive real estate stocks on the ASX were the best performers, up 1.7 per cent.
• Technology stocks rallied, led by Nvidia's 13 percent gain on Wednesday after a 15 percent fall in July.
• Oil prices rose following the assassination of Hamas’ political chief in Tehran, with Brent crude up 1 per cent to $US81.54 a barrel.
• Energy stocks on the ASX rose 1.2 per cent, with Woodside gaining 1.5 per cent to AU$28.02.
• The ACCC will not oppose Louis Dreyfus’ proposed acquisition of Namoi Cotton; shares rose 7.4 per cent to 73¢.
• DroneShield wrapped its AU$120 million capital raise, shares fell 14.8 per cent to AU$1.19.
• Bravura Solutions gained 2.2 per cent to AU$1.17 after proposing a return of up to AU$75.3 million to shareholders.

• Payments provider Findi slipped 7.6 per cent to AU$3.77, despite forecasting a revenue growth of up to 35 per cent in FY25.

• Monadelphous Group fell 4.9 per cent to AU$12.33 after its contract with Albemarle was terminated as part of the latter’s halt on lithium-processing expansion efforts in WA.
• Oil prices surged by over 5% in late trading after The New York Times reported that Iran ordered retaliation against Israel following the killing of a Hamas leader on its soil.
• The Dow Jones closed up by 0.24%, with the S&P 500 and NASDAQ increasing by 1.58% and 2.64% respectively. 
• The Hang Seng is up by 2.01%, and the FTSE 100 has risen by 1.13% today.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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