ASX/200 Closed Lower by 0.41%, Dragged down by Consumer Staples

By the end of the trading session on 16 October 2024, the benchmark index S&P/ASX 200 closed lower by 0.41% and settled at 8,284.70. Out of 11 sectors, 09 sectors ended lower along with the S&P/ASX 200.

A-REIT and Financial are the top- gaining sectors, gaining 0.27% and 0.26% in their index value. Whereas, Consumer Staples and Information Technology are the top-losing sectors, losing 1.13% and 1.06% in their index value.

Evolution Mining Limited (ASX: EVN) and Regis Resources Limited (ASX: RRL) are the top-gaining stocks, gaining 6.823% and 6.666% in their stock prices. On the other hand, IDP Education Limited  (ASX: IEL) and Challenger Limited (ASX: CGF) went down by 5.041% and 4.546% respectively are the top-losing stocks.

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Top gainer for the day:

• A-REIT (Up 0.27 %)
• Financial (Up 0.26%)

Top loser for the day:

• Consumer Staples (Down 1.13%)
• Information Technology (Down 1.06%)

Other Factors influencing the market:

• Gold remained a standout in the commodity sector, with prices hovering near record highs. Evolution Mining and Regis surged nearly 7% to $5.01 and $2.56, respectively.
• Challenger Limited, a financial services company, dropped 4.6% to $6.51 due to disappointing earnings growth.
• Sky City Entertainment fell 2.7% to $1.285 after the High Court in South Australia imposed a $13.1 million fine for additional casino duty.
• Orora, a glass bottles and cans manufacturer, declined 3.5% to $2.52 amid ongoing volume softness in Europe.
• Macquarie downgraded several junior lithium stocks following a rally driven by supply disruptions and Rio Tinto's takeover of Arcadium.
• Australia's federal and state governments are undergoing a major spending surge, which Westpac compares to the mining investment boom of the 2000s in terms of scale and economic impact.
• U.S. stock markets ended lower with the Dow down 0.75%, the S&P 500 by 0.76%, and the NASDAQ by 0.98%. 
• The Hang Seng Index fell 3.67%, while the FTSE 100 dropped 0.52%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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