ASX/200 Closed Lower by 0.04%, Dragged down by Consumer Dicretionary

By the end of the trading session on 21 November 2024, the benchmark index S&P/ASX 200 closed lower by 0.04% and settled at 8,323.00. Out of 11 sectors, 09 sectors ended lower along with the S&P/ASX 200.

Financial and Telecommunications Services are the top-gaining sectors, gaining 0.82% and 0.68% in their index value. On the other the hand, Consumer Discretionary and Consumer Staples are the top-losing sectors, losing 0.31% and 0.18% in their index value.

Sigma Healthcare Limited (ASX: SIG) and Amcor Plc (ASX: AMC) are the top-gaining stocks, gaining 4.310% and 3.288% in their stock prices. On the other hand, Nueren Pharmaceuticals Limited (ASX: NEU) and Pexa Group Limited (ASX: PXA) went down by 9.204% and 4.865% respectively are the top-losing stocks.

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Top gainer for the day:

• Financial (Up 0.31%)
• Telecommunications Services  (Up 0.18%)

Top loser for the day:

• Consumer Discretionary (Down 0.82%)
• Consumer Staples (Down 0.68%)

Other Factors influencing the market:

• Accent Group (ASX: AX1): Shares dropped 11.1% to $2.25 after the company warned of pressure on its gross margins due to heavy discounts by retailers aiming to attract shoppers.

• Web Travel Group (ASX: WEB): The company revised its previous financial reports following auditor inquiries but stated the changes were immaterial. Its shares fell 4.2% to $4.31.
• Amcor (ASX: AMC): The stock rebounded 3.3% to $16.02 after a previous session decline, driven by news of its proposed $13 billion acquisition of New York-listed Berry Group.
• Pinnacle Investment Management (ASX: PNI): Shares surged 3.2% to close at a record $22.12 after the company completed a $400 million capital raise to invest in stakes of offshore fund managers VSS Capital and Pacific Asset Management.
• IDP Education (ASX: IEL): The stock declined 4.1% to $12.63 as major investor Bennelong Funds Management disclosed a reduction in its stake in the international education services provider.
• Bitcoin Milestone: Bitcoin surpassed $US97,000 for the first time, as the cryptocurrency sector pushes for a dedicated White House post to shape crypto policy under Donald Trump’s influence.
• Oil Market Update: Oil prices steadied, with West Texas Intermediate crude stabilizing as US crude stockpiles increased for a third consecutive week. Traders are closely watching the escalating war in Ukraine.
• The US markets presented a mixed performance, as the Dow Jones gained 0.32%, the S&P 500 remained unchanged at 0.00%, and the NASDAQ dipped by 0.11%.
• Meanwhile, the Hang Seng fell by 0.25%, and the FTSE 100 dropped by 0.17% today.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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