ASX/200 Closed Higher by 0.61%, Lifted by Materials

By the end of the trading session on 19 September 2024, the benchmark index S&P/ASX 200 closed higher by 0.61% and settled at 8,191.90. Out of 11 sectors, 06 sectors ended higher along with the S&P/ASX 200.

Materials and Utilities are the top- gaining sectors, gaining 2.30% and 1.37% in their index value. Whereas, Industrials and Healthcare are the top-losing sectors, losing 1.32% and 0.52% in their index value.

Sims Limited (ASX: SGM) and Strike Energy Limited (ASX: STX) are the top-gaining stocks, gaining 12.420% and 9.756% in their stock prices. On the other hand, ALS Limited (ASX: ALQ) and Polynovo Limited (ASX: PNV) went down by 8.562% and 3.907% respectively are the top-losing stocks.

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Top gainer for the day:

• Materials (Up 2.30%)
• Utilities (Up 1.37%)

Top loser for the day:

• Industrials (Up 1.32%)
• Healthcare (Up 0.52%)

Other Factors influencing the market:

• Monadelphous Group Secures $230 Million in New Contracts: The engineering company Monadelphous Group has announced new contracts worth $230 million, leading to a 1.3% increase in its share price to $12.37.

• Sims Recycling Sees Share Surge: Scrap metals recycler Sims experienced a 12.4% rise in its share price to $12.40 after projecting first-quarter earnings to exceed $55 million, despite challenges in the Australian and New Zealand markets.
• Orica Exceeds Earnings Forecast: Commercial explosives manufacturer Orica reported that it expects to surpass its previous earnings forecast for the second half of the year, resulting in a 1.3% increase in shares to $17.86.
• Bank of America Warns on Iron Ore Prices: Bank of America has cautioned that iron ore prices might dip below $US80 per tonne, a level that could lead to the shutdown of higher-cost mines due to China's ongoing steel industry issues.
• Oil Market Steady Amid Mixed Signals: Oil prices remained stable as investors weighed weak US demand against a significant Federal Reserve interest rate cut and escalating Middle East tensions.
• Market Movements: The Dow Jones Industrial Average fell by 0.25%, the S&P 500 dropped by 0.29%, and the NASDAQ decreased by 0.31%. 
• In contrast, the Hang Seng Index rose by 1.37%, while the FTSE 100 declined by 0.68%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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