ASX/200 Closed Higher by 0.89%, Lifted by Information Technology

By the end of the trading session on 18 November 2024, the benchmark index S&P/ASX 200 closed higher by 0.89% and settled at 8,374.00. All of 11 sectors ended higher along with the S&P/ASX 200.

Information Technology and Telecommunications Services are the top-gaining sectors, gaining 3.12% and 1.52% in their index value.

Technology One Limited (ASX: TNE) and Sonic Healthcare Limited (ASX: SHL) are the top-gaining stocks, gaining 10.052% and 6.832% in their stock prices. On the other hand, Elders Limited (ASX: ELD) and Neuren Pharmaceuticals Limited (ASX: NEU) went down by 10.868% and 5.311% respectively are the top-losing stocks.

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Top gainer for the day:

• Information Technology (Up 3.12%)
• Telecommunications Services (Up 1.52%)

Other Factors influencing the market:

• The tech sector emerged as the top performer, rising 3.1%, driven by TechnologyOne's 10.1% surge. Shares closed at $29.45, supported by a 15% increase in full-year net profit to $118 million and a 17% rise in revenue.

• Newmont Corporation climbed 2% to $65.27, following an agreement to sell its Musselwhite mine in Canada for up to US$850 million (AU$1.3 billion). This sale is part of its broader plan to divest assets and enhance shareholder returns.
• KMD Brands, the owner of Rip Curl and Kathmandu, dropped 3.9% to 37.5¢, citing caution around consumer sentiment after reporting a decline in quarterly sales.
• Elders Limited (ASX: ELD) saw a sharp fall of 10.8% to $7.71, making it the worst performer on the ASX 200. The drop followed news of its $475 million acquisition of Delta Agribusiness after emerging from a trading halt.
• Oil prices surged, bolstered by rising geopolitical tensions and a weakening US dollar, despite bearish market indicators.
• U.S. indices showed mixed performance: Dow Jones declined by 0.13%, S&P 500 gained 0.39% and NASDAQ rose 0.60%.
• Global indices presented varied movements, Hang Seng Index dipped by 0.22% and FTSE 100 increased by 0.57%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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