ASX/200 Closed Higher by 0.28%, Lifted by Information Technology Sector

By the end of the trading session on 03 July 2024, the benchmark index S&P/ASX 200 ended up by 0.28% and settled at 7,739.90. Out of 11 sectors, 04 sectors closed lower along with the ASX 200.

Information Technology and Materials are the top-gaining sectors, gaining 1.37% and 1.11% in their index value. Utilities and Telecommunication Services were the top-losing sectors, losing 0.55% and 0.40% respectively in their index values.

Deep Yellow Limited (ASX: DYL) and Paladin Energy Limited (ASX: PDN) are the top-gaining stocks, gaining 6.844% and 6.134% in their stock prices. On the other hand, Liontown Resources Limited (ASX: LTR) and Graincorp Limited (ASX: GNC) went down by 4.712% and 4.055% respectively are the top-losing stocks.

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Top gainer for the day:

• Information Technology (Up 1.37%)
• Materials (Up 1.11%)

Top loser for the day:

• Utilities (Down 0.55%)
• Telecommunication Services (Down 0.40%)

Other Factors influencing the market:

• The Australian sharemarket saw a boost on Wednesday, primarily driven by strong performances in mining stocks. This uptick came despite stronger-than-expected retail sales data, which investors seemed to overlook.
• Mining stocks were particularly robust, with the sector emerging as one of the top performers on the ASX. This strength was supported by a 1.5 percent increase in iron ore futures, trading at $US111.70 per tonne for the August contract in Singapore.
• In other movements on the ASX, Liontown Resources experienced a significant decline, dropping 4.7 percent to 91¢. This followed a profit-taking spree after the company's shares had surged more than 7 percent in the previous session. The rally was spurred by the lithium explorer's announcement of a funding deal with South Korean battery conglomerate LG Energy Solutions.
• Flight Centre shares rose by 3.2 percent to AU$20.63 amid speculation that changes to incentive payments by Virgin Airlines could result in increased funds for some travel agencies.
• Conversely, APA Group's shares fell by 0.6 percent to AU$7.90. This decline followed the company's announcement of a non-cash impairment of AU$145 million related to its Moomba Sydney Ethane pipeline.
• Crude oil prices fell in the previous session as fears faded that Hurricane Beryl would disrupt supplies as the storm will avoid most oil fields as it barrels toward Jamaica.
• The Dow has closed up by 0.41%, the S&P 500 closed up by 0.62%, and the NASDAQ ended higher by 0.84%.
• Hang Seng is up by 0.29%, and FTSE 100 is down by 0.56%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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