ASX/200 Closed Higher by 0.76%, Lifted by Materials

By the end of the trading session on 26 July 2024, the benchmark index S&P/ASX 200 ended Higher by 0.76% and settled at 7921.30. Out of 11, 9 sectors ended higher along with the S&P/ASX 200.

Materials and A-REIT are the top-gaining sectors, gaining 1.42% and 1.29% in their index value. Consumer staples and Telecommunication are the top-loosing sectors, losing 0.22% and 0.02% in their index value.

Karoon Energy Ltd (ASX: KAR) and Liontown Resources Limited (ASX: LTR) are the top-gaining stocks, gaining 5.747% and 5.464% in their stock prices. On the other hand, Bellevue Gold Limited (ASX: BGL) and Red 5 Limited (ASX: RED) went down by 21.585% and 5.064% respectively are the top-losing stocks.

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Top gainer for the day:

• Materials (Up 1.42 %)
• A-REIT (Up 1.29%)

Top loser for the day:

• Consumer staples (Down 0.22%)
• Telecommunication (Down 0.02%)

Other Factors influencing the market:

• Following a spike in commodity stocks on Friday, the Australian share market recovered some of the losses it had suffered earlier in the week. The All Ordinaries contributed 0.7% more.
• This came after local equities fell 1% on Thursday—the worst drop in six weeks—as a result of falling commodities prices and aggressive Wall Street selling. The benchmark index experienced a 0.6% decline at the end of the week.
• Despite a brief rally early in the morning, the S&P 500 on Wall Street finished the session down 0.5%. Even though the tech industry was still losing money, about 300 benchmark participants nevertheless achieved higher finishes.
• The largest sell-off in the US stock market since 2022 was brought on by Tesla and Alphabet earlier in the week.
• On the eve of the Paris Olympics, Nine shares fell 1.1% to AU$1.385 following the vote by publishing personnel to go on strike. The majority of employees at The Australian Financial Review, The Sydney Morning Herald, and The Age will begin to leave their jobs at 11 a.m. on Friday, having declined the most recent salary offer from management.
• After Bellevue Gold, a gold miner in Western Australia, concluded an AU$150 million institutional placement at a 15.3% discount to its closing share price on Wednesday, the company's shares fell 21.6% to AU$1.435.
• Oil prices fell for a second consecutive session on Monday to their lowest level in over a month, as investors looked past U.S. President Joe Biden's decision to end his reelection bid and focused on rising stockpiles and signs of weak demand. The Dow closed up by 0.20%, the S&P 500 closed down by 0.51%, and the NASDAQ ended lower by 0.93%.
• Hang Seng is up by 0.086%, and FTSE 100 is down by 0.40%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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