ASX/200 Closed Lower by 0.16%, Dragged down by Information Technology

By the end of the trading session on 27 August 2024, the benchmark index S&P/ASX 200 ended lower by 0.16% and settled at 8,071.20. Out of 11 Sectors, 07 sectors ended lower along with the S&P/ASX 200.

Energy and Materials are the top-gaining sectors, gaining 2.52% and 0.89% in their index value. Information Technology and Financial are the top-losing sectors, losing 1.14% and 0.89% in their index value.

Nanosonics Limited (ASX: NAN) and Strike Energy Limited (ASX: STX) are the top-gaining stocks, gaining 22.963% and 19.697% in their stock prices. On the other hand, John Lyng Group Limited (ASX: JLG) and Lovisa Holdings Limited (ASX: LOV) went down by 26.392% and 11.961% respectively are the top-losing stocks.

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Top gainer for the day:

• Energy (Up 2.53%)
• Materials (Up 0.95%)

Top loser for the day:

• Information Technology (Down 1.15%)
• Financial (Down 0.92%)

Other Factors influencing the market:

• BHP, a major mining company, saw a 2% increase in shares following an underlying profit of $US13.7 billion ($20.2 billion), slightly exceeding expectations.
• Coles, the supermarket giant, advanced 1.8% after reporting a stronger full-year net profit for fiscal 2024, bringing total dividends to 68¢ fully franked.
• Johns Lyng Group, a property services business, was the largest laggard, plummeting 25% due to a revenue decline for the year ending June 30.
• Lovisa, a jewelry retailer, dropped nearly 14% after a trading update disappointed investors, despite reporting higher net profit for 2024.
• Guzman y Gomez, a Mexican-themed fast-food chain, fell 2.7% due to deeper losses in fiscal 2024.
• Zip, a buy-now-pay-later company, plunged nearly 10% despite a significant increase in transaction values, driven by more US consumers using its short-term credit app.
• Oil prices have weakened in recent months, briefly erasing year-to-date gains as concerns grow over slowing demand in China, the top importer.
• The Dow Jones closed up 0.16%, the S&P 500 decreased by 0.32%, and the NASDAQ ended 0.85% lower.
• The Hang Seng Index increased by 0.30%, while the FTSE 100 rose by 0.48% today.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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