ASX/200 Closed Higher by 0.53%, Lifted by A-REIT

By the end of the trading session on 25 March 2024, the benchmark index S&P/ASX 200 ended higher by 0.53% and settled at 7,811.90. Out of 11 sectors, 10 closed higher along with the ASX 200.

A-REIT and Energy were the top-gaining sectors, gaining 1.78% and 1.13% respectively in their index values. Consumer Discretionary was the top-losing sectors, losing 0.01% respectively in their index values.

West African Limited (ASX: WAF) and Megaport Limited (ASX: MP1) were the top gainers, with 7.706% and 4.050% growth in share prices, respectively. On the other hand, ALS Limited (ASX: ALQ) and Life 360 (ASX: 360) were the top losers, with 4.807% and 4.380% drop in share prices, respectively.

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Top gainer for the day:

• A-REIT (Down 1.78%)
• Energy (Down 1.13%)

Top loser for the day:

• Consumer Discretionary (Up 0.01%)

       Other Factors influencing the market:

• ALS, a testing services company, announced intentions to acquire full control of troubled European drug research firm Nuvisan, after contemplating divesting its significant stake in the company last year.

• The board of McGrath, a real estate company, has endorsed a takeover bid from Knight Frank and Bayleys, valued at 60¢ per share, resulting in a 24.5% surge in share price to 59¢.
• Sims, a scrap metal recycler, experienced a 2.6% rise in stock price to $12.21 following an upgrade by UBS to a “buy” rating, with expectations of selling its UK metals unit above book value.
• MMA Offshore, an oil and gas contractor, received a takeover proposal from Seraya Partners' subsidiary Cyan Renewables, causing a 10.6% increase in share price to $2.60.
• Market indices reported mixed performances: the Dow closed down by 0.77%, the S&P 500 down by 0.14%, and the NASDAQ up by 0.16%.
•  Meanwhile, the Hang Seng rose by 0.31%, and the FTSE 100 increased by 0.61% on the day.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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