ASX/200 Closed Lower by 0.36%, Dragged down by Information Technology

By the end of the trading session on 10 December 2024, the benchmark index S&P/ASX 200 closed lower by 0.36% and settled at 8,393.00. Out of 11 sectors, 08 sectors ended lower along with the S&P/ASX 200.

Materials and Energy are the top-gaining sectors, gaining 3.04% and 1.32% in their index value. On the other hand, Information Technology and Financial are the top-losing sectors, losing 4.04% and 1.74% in their index value.

Mineral Resources Limited (ASX: MIN) and Pilbara Minerals Limited (ASX: PLS) are the top-gaining stocks, gaining 8.686% and 6.511% in their stock prices. On the other hand, Pro Medicus Limited (ASX: PME) and Perpetual Limited (ASX: PME) went down by 8.958% and 8.398% respectively are the top-losing stocks.

Copyright © 2022 Kapitales Research

Top gainer for the day:

• Materials (Up 3.04%)
• Energy (Up 1.32%)

Top loser for the day:

• Information Technology (Down 4.04%)
• Financial (Down 1.74%)

Other Factors influencing the market:

• Perpetual may face a tax bill exceeding $500 million due to the sale of assets to private equity firm KKR, potentially jeopardizing the entire deal. As a result, Perpetual's shares dropped 5.8% to $20.31.
• IAG intends to defend itself against a class action filed in the Supreme Court of Victoria. The announcement led to a 1.7% decline in IAG's shares, which fell to $8.50.
• Shares in Platinum Asset Management fell an additional 1.7%, following a 14% drop on Monday, as a proposed takeover by Regal Partners collapsed.
• Life360 (ASX: 360) saw its shares decline by 5.5% to $22.71 after dropping 8.3% the previous day, following the revelation that its weighting in the Russell indexes had been miscalculated, forcing passive funds to adjust their positions.
• China's surprise pledge to implement further economic stimulus sent the Australian dollar, commodities, and mining stocks soaring on Tuesday amid expectations that Beijing will deliver the long-awaited stimulus.
• Cryptocurrencies experienced a sell-off as market optimism waned following President-elect Donald Trump's backing of the sector, leading to a cooling effect.
• Dow Jones Industrial Average dipped by 0.54%, indicating slight investor caution, while the S&P 500 fell by 0.61%. However, the NASDAQ posted a 0.62% gain.
• The Hang Seng rose by 0.67%, while the FTSE 100 was up 0.52% today.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com