ASX/200 Closed Higher by 0.68%, Lifted by Information Technology

By the end of the trading session on 06 June 2024, the benchmark index S&P/ASX 200 ended higher by 0.68% and settled at 7,821.80.  All of the 11 sectors closed higher along with the ASX 200.

Information Technology and Industrials were the top-gaining sector, gaining 1.25% and 1.09% respectively in their index values.

Coronado Global Resources Inc. (ASX: CRN) and Nanosonics Limited (ASX: NAN) are the top-gaining stocks, gaining 6.465% and 6.164% in their stock prices. On the other hand, IDP Education Limited (ASX: IEL) and Megaport Limited (ASX: MP1) are the top-losing stocks and are declining by 7.521% and 3.823% in their stock prices.

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Top gainer for the day:

• Information Technology (Up 1.25%)
• Industrials (Up 1.09%)

Other Factors influencing the market:

• Magellan Financial's stock rose by 1.3% to AU$8.45 as funds under management increased to AU$36.7 billion at the end of May, up from AU$36.3 billion a month earlier.
• In bond markets, the yield on the US 10-year note fell below 4.30%, dropping more than 20 basis points over the past month amid ongoing discussions about when the US Federal Reserve will cut interest rates.
• ASIC revoked XTrade’s financial services license after discovering it had engaged in unconscionable conduct, encouraging vulnerable clients to make trades they could not afford.
• Oil prices rose for a second session, despite Saudi Arabia expressing concerns over demand by lowering its crude prices.
• The Dow Jones closed up by 0.25%, the S&P 500 increased by 1.18%, and the NASDAQ ended higher by 1.95%.
• The Hang Seng index decreased by 0.10%, while the FTSE 100 increased by 0.18%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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