ASX/200 Closed Lower by 0.19%, Dragged down by Financial

By the end of the trading session on 25 September 2024, the benchmark index S&P/ASX 200 closed lower by 0.19% and settled at 8,126.40. Out of 11 sectors, 08 sectors ended lower along with the S&P/ASX 200.

Materials and Energy are the top- gaining sectors, gaining 2.88% and 0.43% in their index value. Whereas Financial and Information Technology are the top-losing sectors, losing 1.67% and 1.20% in their index value.

Champion Iron Limited (ASX: CIA) and Coronado Global Resources Limited (ASX: CRN) are the top-gaining stocks, gaining 13.445% and 5.825% in their stock prices. On the other hand,Premier Investing Limited  (ASX: PMV) and Megaport Limited (ASX: MP1) went down by 9.089% and 4.218% respectively are the top-losing stocks.

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Top gainer for the day:

• Materials (Up 2.88%)
• Energy (Up 0.43%)

Top loser for the day:

• Financial (Down 1.67%)
• Information Technology (Down 1.20%)

Other Factors influencing the market:

• Premier Investments Limited (ASX: PMV), led by Solomon Lew, saw its shares drop 9.1% to $30.61 after the company put a hold on the demerger of its Smiggle and Peter Alexander stores, while considering a potential deal with Myer.
• Fortescue Metals Group (ASX: FMG) signed a $2.8 billion agreement to replace two-thirds of its Western Australia haulage fleet with electric vehicles, boosting its shares by 4.7% to $18.85.
• Sigma Healthcare (ASX: SIG) shares fell 3.5% to $1.37 after the company announced it expects full-year 2025 normalized earnings between $50 million and $60 million.
• KMD Brands (ASX: KMD), the parent of Kathmandu and Rip Curl, reported a significant decline in sales and profits for FY24, with shares dropping 1.1% to 46¢.
• China’s central bank cut its one-year loan rate to a record low, launching measures to revive confidence in the nation's economy.
• Oil prices surged 2% on Tuesday due to China's stimulus efforts and concerns over the Middle East conflict impacting supply.
• U.S. markets closed higher with the Dow up 0.20%, S&P 500 gaining 0.25%, and NASDAQ rising 0.57%. 
• The Hang Seng increased by 4.13%, and FTSE 100 climbed by 0.28%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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