ASX/200 Closed Higher by 0.49%, Lifted by Consumer Discretionary

By the end of the trading session on 07 June 2024, the benchmark index S&P/ASX 200 ended higher by 0.49% and settled at 7,860.00.  Out of 11 sectors, 09 sectors closed higher along with the ASX 200.

Consumer Discretionary and Materials were the top-gaining sector, gaining 1.19% and 0.76% respectively in their index values. On the other hand, Informnation Technology were the top-losing sector, losing 0.05% respectively in their index values.

IDP Education Limited (ASX: IEL) and Boss Energy Limited (ASX: BOE) are the top-gaining stocks, gaining 5.651% and 3.926% in their stock prices. On the other hand, Life 360 Inc. (ASX: 360) and Red 5 Limited (ASX: RED) are the top-losing stocks and are declining by 6.059% and 3.297% in their stock prices.

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Top gainer for the day:

• Consumer Discretionary (Up 1.19%)
• Materials (Up 0.76%)

Top loser for the day:

• Information Technology (Down 0.05%)

Other Factors influencing the market:

• Life360 debuted a secondary listing of shares on the Nasdaq index in the US at $27 per share. The company's mobile phone location tracking app now boasts over 66.2 million monthly active users.
• GQG Partners, an international equities manager based in the US, witnessed a surge in total assets from $142 billion as of April 30 to $150.1 billion as of May 31.
• Shares of Technology One, an enterprise software company headquartered in Brisbane, reached a record intraday high of $18.37. The company's market capitalization now stands at $5.9 billion.
• Oil prices increased by 2% on Thursday following the European Central Bank's decision to cut interest rates, raising expectations of a similar move by the Fed. OPEC+ ministers also reassured investors about the flexibility of the latest oil output agreement based on market conditions.
• Market indices closed with gains: the Dow Jones rose by 0.25%, the S&P 500 by 1.18%, and the NASDAQ by 1.95%.
• Presently, the Hang Seng index is down by 0.78%, while the FTSE 100 has climbed by 0.47%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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