ASX/200 Closed Lower by 0.12%, Dragged down by Information Technology

By the end of the trading session on 24 October 2024, the benchmark index S&P/ASX 200 closed lower by 0.12% and settled at 8,206.30. Out of the 11 sectors, 05 sectors ended lower along with the S&P/ASX 200.

Telecommunications Services and Financial are the top-losing sectors, losing 0.71% and 0.62% in their index value. On the other hand, Information Technology and Consumer Discretionary are the top-losing sectors, losing 0.71% and 0.62% in their index value.

West African Resources Limited (ASX: WAF) and Viva Energy Group Limited (ASX: VEA) are the top-gaining stocks, gaining 3.560% and 2.661% in their stock prices. On the other hand, Reece Limited (ASX: REH) and Whitetech Global Limited (ASX: WTC)  went down by 7.945% and 6.317% respectively are the top-losing stocks.

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Top gainer for the day:

• Telecommunications Services (Up 0.71%)
• Financial (Up 0.62%)

Top loser for the day:

• Information Technology (Down 2.90%)
• Consumer Discretionary (Down 0.98%)

Other Factors influencing the market:

• Newmont Corporation (ASX: NEM) saw its shares drop 6.3% to $81.87, following a decline in aftermarket trading for its U.S.-listed stock after the company's quarterly earnings missed market expectations.
• Brambles (ASX: BXB), a global pallet supplier, reported an increase in sales revenue for the September quarter, but shares fell 1.5% to $18.29 due to stalled volume growth.
• Fortescue Metals Group Ltd (ASX: FMG), led by Andrew Forrest, experienced a 3.2% decline in its share price to $19.13 despite shipping a record 47.7 million tonnes of iron ore in Q1, as this figure was at the lower end of analysts' expectations.
• Super Retail Group (ASX: SUL) posted higher sales in the early months of the new financial year but warned of uncertain consumer demand, resulting in a 5.3% share price drop to $15.87.
• HMC Capital (ASX: HMC), owned by David Di Pilla, has paused its shares at $9.21 as it prepares to raise $300 million to fund its $1.93 billion acquisition of Global Switch Australia.
• Oil prices steadied after a recent drop as traders evaluated Middle Eastern tensions and market balance forecasts for 2025.
• U.S. markets showed mixed results with the Dow down 0.02%, the S&P 500 down 0.05%, and the NASDAQ up 0.17%. 
• The Hang Seng rose 0.10%, while the FTSE 100 dipped 0.14%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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