ASX/200 Closed Higher by 1.34% Lifted by Energy

By the end of the trading session on 16 August 2024, the benchmark index S&P/ASX 200 ended Higher by 1.34% and settled at 7971.10. All 11 Sectors ended higher along with the S&P/ASX 200.

Energy and Materials are the top-gaining sectors, gaining 2.18% and 2.14% in their index value.

Zip Co Limited (ASX: ZIP) and James Hardie Industries Plc (ASX: JHX) are the top-gaining stocks, gaining 13.471 % and 6.188% in their stock prices. On the other hand, AMCOR PLC (ASX: AMC) and Strike Energy Limited (ASX: STX) went down by 2.789% and 2.778% respectively are the top-losing stocks.

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Top gainer for the day:

• Energy (Up 2.18%)
• Material (Up 2.14%)

Other Factors influencing the market:

• Australian Shares Recorded Their Sixth Consecutive Session Of Gains On Friday As Investors Gained Confidence That The US Economy Will Avoid A Recession, Supporting The Earnings Outlook.
• On Wall Street, Shares Extended Their Week-Long Rebound On Thursday, With The Tech-Heavy Nasdaq Index Adding 2.3% As Concerns Over Weak US Jobs Data And A Stock Market Rout In Japan Receded.
• National Australia Bank Rose 1.5% To AU$36.48 After Reporting A Third-Quarter Cash Profit Of AU$1.75 Billion, In Line With Analysts’ Forecasts. Azib Khan From Evans & Partners Noted Potential Net Interest Margin (NIM) Pressure As NAB Adjusted Its Australian Home Loan Pricing To Address Mortgage Market Share Loss. Concerns About Asset Quality Persist Despite A Lower-Than-Expected Bad Debt Charge, Indicating Ongoing Deterioration In The Business Lending Portfolio.
• The Materials Sector, Dominated By The Big Iron Ore Miners, Rebounded With A 2.2% Gain After Suffering Heavy Losses Earlier In The Week. BHP Shares Rallied 2% To AU$40.01, While Energy Giant Woodside Firmed 2.4% To AU$26.12, Despite Iron Ore Prices Hitting Their Lowest Level Since 2022 Due To Concerns Over China's Economic Health.
• Shares In ASX Edged Up 0.1% To AU$64.06 After The Bourse Reported An Underlying Profit Of AU$474.2 Million, Slightly Down From Last Year, While Revenue Reached A Record High Of AU$1.03 Billion.
• Oil Prices Gained More Than $1 A Barrel In The Previous Session After U.S. Economic Data Allayed Fears Of Recession In The World's Biggest Economy, Although The Rally Was Limited By Concerns Of Slower Global Demand.
• The Dow Has Closed Up By 1.39%, The S&P 500 Closed Up By 1.61%, And The NASDAQ Ended Higher By 2.32%.
• Hang Seng Is Down By 0.02%, And FTSE 100 Is Up By 0.80%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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