ASX/200 Closed Lower by 0.24%, Dragged down by Industrials

By the end of the trading session on  09 January 2025, the benchmark index S&P/ASX 200 closed lower by 0.24% and settled at 8,329.20. Out of 11 sectors, 08 sectors ended lower along with the S&P/ASX 200.

Utilities and Materials are the top-gaining sectors, gaining 0.67% and 0.07% in their index value. On the other hand, Industrials and Consumer Staples are the top-losing sectors, losing 0.93% and 0.81% in their index value.

Arcadium Lithium Limited (ASX: LTM) and Pro Medicus Limited (ASX: PME) are the top-gaining stocks, gaining 7.919% and 3.855% in their stock prices. On the other hand, The Star Energy Limited (ASX: SGR) and West Gold Resources Limited (ASX: WGX) went down by 33.334% and 13.652% respectively are the top-losing stocks.

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Top gainer for the day:

• Utilities (Up 0.07%)
• Materials (Up 0.67%)

Top loser for the day:

• Industrials (Up 0.82%)
• Consumer Staples (Up 0.50%)

Other Factors influencing the market:

• Arcadium Lithium Gains: Arcadium Lithium surged 8% on Thursday following approval from a US national security and trade committee for its proposed acquisition by Rio Tinto (ASX: RIO).
• Computershare Declines: Computershare fell 3.7% as investors locked in profits after a 30% rally in the past two months. Analysts from UBS and Macquarie have downgraded the stock.
• Star Entertainment Faces Cash Crunch: Star Entertainment Group (ASX: SGR) shares plummeted 25.6% after disclosing it has only $79 million in cash and is struggling to meet the terms of a $100 million loan facility.
• Lovisa Downgrade Hits Shares: Lovisa's stock dropped 11.4% as UBS downgraded the jewelry retailer to a “sell” rating, citing slow store expansion in recent years.
• Avita Medical Stabilizes: Avita Medical shares fell 12% after initially losing a third of their value when the company announced it would miss revenue forecasts.
• Oil Prices Steady: Oil prices stabilized as traders evaluated signs of tightening supply, supporting gains in early 2025.
• US Market Performance: The Dow Jones Industrial Average rose 0.25%, the S&P 500 increased 0.16%, while the NASDAQ dipped by 0.06%.
• Global Indices Update: The Hang Seng Index is down by 0.09%, while the FTSE 100 has gained 0.07% at the time of writing.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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