ASX/200 Closed Lower by 0.10%, Dragged down by A-REIT

By the end of the trading session on 29 November 2024, the benchmark index S&P/ASX 200 closed lower by 0.10% and settled at 8,436.20. Out of 11 sectors, 07 sectors ended lower along with the S&P/ASX 200.

Materials and Information Technology are the top-gaining sectors, gaining 0.82% and 0.48% in their index value. On the other hand, A-REIT and Industrials are the top-losing sectors, losing 0.81% and 0.56% in their index value.

Web Travel Group Limited (ASX: WEB) and Travel Pharmaceuticals Limited (ASX: TLX) are the top-gaining stocks, gaining 4.888% and 4.037% in their stock prices. On the other hand, Aukland International Airport Limited (ASX: AIA) and Tabcorp Holdings Limited (ASX: TAH) went down by 3.306% and 2.728% respectively are the top-losing stocks.

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Top gainer for the day:

• Materials (Up 0.82%)
• Information Technology (Up 0.48%)

Top loser for the day:

• A-REIT (Down 0.81%)
• Industrials (Down 0.56%)

Other Factors influencing the market:

• Shares of Star Entertainment dropped by 3% to a record low of 18¢ after analysts at Macquarie downgraded the casino operator's rating to "underperform."

• Web Travel's stock rose 4.9% to $5.15, marking a 20% increase since Tuesday. This surge follows its first standalone half-year earnings report, which revealed an underlying net profit of $52.5 million.

• A global trade conflict, potentially triggered by returning US President-elect Donald Trump, could drive the Australian dollar below US60¢, especially if China responds to higher tariffs by devaluing its currency.

• AMP has revised its forecast for the Reserve Bank of Australia's (RBA) first rate cut, shifting it from February to May. This adjustment aligns with similar changes by ANZ and Bank of Queensland.

• The US dollar is on track for its largest weekly decline in three months as investors begin to reassess the "Trump trade" that had previously boosted the currency since the US election.

• Oil prices saw minimal movement as traders awaited updates on OPEC+ production strategies following the postponement of a crucial meeting by four days.

• Major stock indices delivered varied performances: the Dow Jones fell 0.31%, the S&P 500 dropped 0.38%, and the NASDAQ declined 0.60%.
• Meanwhile, the Hang Seng edged down 0.22%, and the FTSE 100 rose slightly by 0.08%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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