ASX/200 Closed Higher by 0.30%, Lifted by Energy

By the end of the trading session on 10 September 2024, the benchmark index S&P/ASX 200 closed higher by 0.30% and settled at 8,011.90. All the 11 sectors ended higher along with the S&P/ASX 200.

Energy and Utilities are the top- gaining sectors, gaining 0.89% and 0.73% in their index value.

Paladin Energy Limited (ASX: PDN) and Polynovo Limited (ASX: PNV) are the top-gaining stocks, gaining 5.914% and 5.744% in their stock prices. On the other hand, Steadfast Group Limited (ASX: SDF) and Life 360 Inc. (ASX: 360) went down by 10.990% and 7.444% respectively are the top-losing stocks.

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Top gainer for the day:

• Energy (Up 0.89%)
• Utilities (Up 0.73%)

Other Factors influencing the market:

• Life360 (ASX: 360), a family app, saw a sharp drop of 8.1% to $17.03 following news that director James Synge sold approximately $US3.7 million ($5.5 million) worth of shares.
• Materials companies ended the session in decline after China, Australia’s major iron ore buyer, released data showing a 1.4% decrease in iron ore imports last month.
• Energy stocks gained on Tuesday, despite Brent crude prices falling below $US72 a barrel, driven by weak demand from China and ongoing global oversupply, which outweighed the impact of supply disruptions from Tropical Storm Francine.
• Steadfast Group, a strata insurance brokerage, plummeted over 10% to $5.32, marking one of its worst trading days since its listing.
• The Australian dollar was steady at US66.62¢, significantly lower than the nine-month high of US68.23¢ reached two weeks ago.
• The Dow rose 1.20%, S&P 500 increased by 1.16%, and NASDAQ was up by 1.16%. Meanwhile, the Hang Seng gained 0.33%, while FTSE 100 dropped 0.72%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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