ASX/200 Closed lower by 0.10%, Dragged down by Information Technology

By the end of the trading session on 20 March 2024, the benchmark index S&P/ASX 200 ended lower by 0.10% and settled at 7,695.80. Out of 11 sectors, 09 closed higher along with the ASX 200.

Energy and Telecommunications were the top-gaining sectors, gaining 0.51% and 0.37% respectively in their index values. Information Technology and Utilities were the top-losing sectors, losing 0.46% and 0.37% respectively in their index values.

Paladin Energy Limited (ASX: PDN) and Telix Pharmacy Limited (ASX: TLX) were the top gainers, with 8.108% and 6.705% growth in share prices, respectively. On the other hand, Red5 Limited (ASX: RED) and South2 Limited (ASX: S32) were the top losers, with 4.286% and 4.167% drop in share prices, respectively.

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Top gainer for the day:

• Energy (Up 0.51%)
• Telecommunications Services (Up 0.37%)

Top loser for the day:

• Information Technology (Down 0.46%)
• Utilities (Down 0.37%)

     Other Factors influencing the market:

• Amcor, a leading packaging company, saw a decline of 3.6% following the announcement of CEO Ronald Delia's retirement due to health reasons.

• Mineral Resources, a lithium producer, experienced a slight decrease of 0.3% as it entered into a farm-in agreement with Lord Resources to expand a project in Western Australia.
• Perseus, a gold mining company, witnessed a drop of 3.6% after enhancing its takeover bid for Tanzanian explorer OreCorp amid an escalating bidding war. OreCorp, on the other hand, saw a rise of 2.7%.
• Shadow Treasurer Angus Taylor has stated his opposition to the Albanese government's proposed reforms for the Reserve Bank. Taylor demands assurance that all existing RBA board members will be appointed to the new interest-rate setting board and emphasizes the importance of preserving its independence from political influence.
• The Dow Jones Industrial Average closed with a gain of 0.83%, the S&P 500 index rose by 0.56%, and the NASDAQ Composite ended the session higher by 0.39%.
• The Hang Seng Index recorded a 0.23% increase, while the FTSE 100 index in the United Kingdom saw a rise of 0.20% during the trading day.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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