ASX/200 Closed Lower by 0.30%, Dragged down by Financial

By the end of the trading session on 11 September 2024, the benchmark index S&P/ASX 200 closed lower by 0.30% and settled at 7,987.90. Out of the 11 sectors, 07 sectors ended lower along with the S&P/ASX 200.

Materials and Utilities are the top- gaining sectors, gaining 1.72% and 0.35% in their index value. On the other hand, Financial and Energy are the top- losing sectors, losing 1.65% and 1.63% in their index value.

Mineral Resources Limited (ASX: MIN) and Pilbara Mineral Limited (ASX: PLS) are the top-gaining stocks, gaining 15.945% and 13.135% in their stock prices. On the other hand, NextDC Limited (ASX: NXT) and Neuren Pharmaceuticals (ASX: NEU) went down by 5.550% and 3.476% respectively are the top-losing stocks.

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Top gainer for the day:

• Materials (Up 1.72%)
• Utilities (Up 0.35%)

Top loser for the day:

• Financial (Up 1.65%)
• Energy (Up 1.63%)

Other Factors influencing the market:

• NextDC, a data centre owner and operator, led the decline in tech shares, as investors overlooked the sector's rally in New York.
• Lithium stocks saw significant movement, with Pilbara Minerals and Liontown Resources, two of the most shorted stocks on the ASX, both rising by 14% during afternoon trading.
• Mineral Resources also saw a strong surge, climbing 17% after receiving approval from Australia's Foreign Investment Review Board for the sale of a 49% stake in the Onslow Iron haul road.
• REA Group’s acquisition attempt of UK-based Rightmove encountered a challenge, as Rightmove rejected its $11 billion cash and stock offer.
• Infratil, an energy and digital infrastructure investor, is backing the sale of Manawa Energy to New Zealand's Contact Energy in a $1.7 billion deal, with Infratil holding a 51% stake in Manawa.
• Oil prices rebounded slightly after hitting their lowest level since late 2021, following a report of a potential drop in US stockpiles by an industry group.
• The Dow Jones closed down by 0.23%, the S&P 500 rose by 0.45%, and the NASDAQ ended up by 0.84%. 
• Meanwhile, the Hang Seng fell by 1.09%, and the FTSE 100 declined by 0.78%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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