ASX/200 Closed Higher by O.22%, Lifted by Information Technology

By the end of the trading session on 20 August 2024, the benchmark index S&P/ASX 200 ended Higher by 0.22% and settled at 7997.70. Out of 11 Sectors, 6 ended higher along with the S&P/ASX 200.

Information Technology and Materials are the top-gaining sectors, gaining 1.29% and 0.91% in their index value. A-REIT and Industrials are the top-loosing sectors, losing 1.55% and 0.11% in their index value.

Monadelphous Group Limited (ASX: MND) and Judo Capital Holdings Limited (ASX: JDO) are the top-gaining stocks, gaining 11.590% and 10.469% in their stock prices. On the other hand, Dexus (ASX: DXS) and Iress Limited (ASX: IRE) went down by 8.934% and 7.862% respectively are the top-losing stocks.

Copyright © 2022 Kapitales Research

Top gainer for the day:

• Information Technology (Up 1.29%)
• Materials (Up 0.91%)

Top loser for the day:

• A-REIT  (Down 1.55%)
• Industrials (Down 0.11%)

Other Factors influencing the market:

• As trading on Tuesday nears its close, Australian shares are headed for their eighth straight session of gains.
• With BHP up 0.8% to AU$40.50 and iron ore prices increasing to almost $US95 per tonne, mining firms are driving the index higher.
• Earlier in the session, ASX shares saw a 0.4% increase, but they later gave up gains after the Reserve Bank of Australia's minutes revealed that rates are expected to stay high for a "extended period."
• Despite the RBA's hawkish direction, Goldman Sachs senior economist Andrew Boak stated that they expect rate cuts to begin in February, possibly sooner, as Australia's circumstances are comparable to those of other countries.
• Dexus, one of the poorest performers, reported an AU$1.58 billion statutory deficit for the 2024 financial year. As a result, its shares slumped 6.7% to AU$6.99.
• After Yancoal chose not to pay dividends and instead to keep its AU$ 420 million half-year profit for possible acquisitions, the company's shares fell 21% to AU$5.45.
• Shares of Reliance Worldwide Corporation jumped 9.4% to AU$5.14 in response to better-than-expected outcomes from its US business.
• The start of FY25 saw a 7.5% increase in Baby Bunting shares to AU$1.64, as the company reported better revenues.
• Despite losing a lithium contract, Monadelphous announced a 16% increase in yearly net profit to AU$62.2 million, sending its shares soaring 10.7% to AU$13.09. Zoran Bebic, Managing Director, is very upbeat about the prospects for resource projects in Western Australia.
• Shares of Ingenia Communities increased 7.3% to AU$5.45 following the company's 20% sales increase to AU$472.3 million in FY24.
• KMD Brands' stock increased 5% to AU$0.462 after sales at the Rip Curl and Kathmandu stores showed growth, despite early figures being lower than those of the prior year.
• Despite the firm cutting its final dividend by 16% in the wake of a 49% decline in net profit to $US76.5 million for the year ended June 30, Ansell shares gained 7.2% to AU$29.32.
• As the lender revealed that small and medium-sized enterprises, which were previously resistant to increasing borrowing rates, are now facing the effects of decreased consumer demand, Judo Bank shares rose 8.7% to AU$1.51.
• Brent crude oil prices decreased by 2.4%, closing at $US77.77 per barrel as of 5pm in New York. This decline reflects ongoing market volatility and concerns about global demand, particularly amid economic uncertainties and fluctuating supply dynamics.
• The Dow Jones closed up by 0.58%, with the S&P 500 and NASDAQ increasing by 0.97% and 1.39% respectively. 
• The Hang Seng is flat, and the FTSE 100 is up by 0.55% today.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com