ASX/200 Closed Higher by 0.74%, Lifted by Materials

By the end of the trading session on 21 October 2024, the benchmark index S&P/ASX 200 closed lower by 0.74% and settled at 8,344.40. Out of 11 sectors, 10 sectors ended higher along with the S&P/ASX 200.

Materials and Energy are the top-gaining sectors, gaining 1.54% and 1.37% in their index value. On the other hand Information Technology is the top-losing sectors, losing 2.56% in their index value.

Amotiv Limited (ASX: AOV) and Genesis Minerals Limited (ASX: GMD) are the top-gaining stocks, gaining 9.809% and 7.391% in their stock prices. On the other hand, Wisetech Global Limited  (ASX: WTC) and Mineral Resources Limited  (ASX: MIN) went down by 13.472% and 12.822% respectively are the top-losing stocks.

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Top gainer for the day:as

• Materials (Up 1.54%)
• Energy (Up 1.37%)

Top loser for the day:

• Information Technology (Down 2.56%)

Other Factors influencing the market:

• WiseTech saw its stock plunge by 14% as the board announced it is reviewing allegations against founder and CEO Richard White. The allegations, related to a past relationship, led to a multi-million-dollar settlement paid by White.
• Mineral Resources dropped by 13.8%, bringing its share price down to $39.55, after the board expressed “full confidence” in Managing Director Chris Ellison, despite ongoing concerns.
• Nick Scali shares declined by 4.1% to $14.50 after the company issued a profit warning during its annual meeting in Sydney, citing reduced gross margins due to escalating shipping costs.
• Bitcoin surged close to $70,000, fueled by increasing inflows into exchange-traded funds and optimism surrounding potential favorable US regulatory developments for the digital asset.
• Oil prices rose after dropping nearly 8% last week, driven by escalating tensions in the Middle East. Israeli Prime Minister Benjamin Netanyahu held meetings to plan further actions regarding Iran.
• On Wall Street, the Dow Jones Industrial Average edged up 0.09%, the S&P 500 fell 0.40%, and the NASDAQ finished slightly higher by 0.63%. 
• Globally, the Hang Seng index declined 1.73%, while the FTSE 100 was down 0.32% today.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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