ASX/200 Closed Higher by 0.84%, Lifted by Information Technology

By the end of the trading session on 08 November 2024, the benchmark index S&P/ASX 200 closed higher by 0.84% and settled at 8,295.10. Out of 11 sectors, 10 sectors ended higher along with the S&P/ASX 200.

Information Technology and Consumer Discretionary are the top-gaining sectors, gaining 1.76% and 1.40% in their index value. On the othet hand, Energy is the top-losing sector, losing 0.40% in their index value.

Neuren Pharmaceuticals Limited (ASX: NEU) and Capricorn Metals Limited (ASX: CMM) are the top-gaining stocks, gaining 15.069% and 4.882% in their stock prices. On the other hand, Block Inc. (ASX: SQ2) and Worley Limited (ASX: WOR)  went down by 6.061% and 4.151% respectively are the top-losing stocks.

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Top gainer for the day:

• Information Technology (Up 1.76%)
• Consumer Dicretionary (Up 1.29%)

Top loser for the day:

• Energy (Down 0.48%)

Other Factors influencing the market:

• Neuren Pharmaceuticals Limited (ASX: NEU) led the gains on the index, surging 15% to reach $16.57 after announcing robust U.S. sales for its Daybue drug.
• Biggest Loser: Block Inc. (ASX: SQ2), owner of Afterpay, dropped 7.2% to $111.75 following a September quarter profit that fell short of market expectations.
• Quickstep Holdings Surge: Aerospace manufacturer Quickstep Holdings (ASX: QHL) saw a more than 5% increase in share value after rejecting a takeover offer from major customer ASDAM Operations, deeming the bid too low.
• Mayne Pharma Jumps: Shares in Mayne Pharma (ASX: MYX) rose by 15% to $5.10, with the company confirming media reports that Jefferies Australia is actively seeking potential buyers for the $376 million company.
• Oil Price Dip: Oil prices dipped on Friday as concerns eased over potential disruptions from a Gulf of Mexico hurricane, while markets evaluated the potential impact of policies from incoming U.S. President Donald Trump.
• Market Indices Update: The Dow closed flat, the S&P 500 rose by 0.74%, and the NASDAQ gained 1.51%. 
• Meanwhile, the Hang Seng index increased by 2.02%, whereas the FTSE 100 saw a decline of 0.32%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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