ASX/200 Closed Lower by 0.42%, Dragged down by Financial

By the end of the trading session on  10 January 2025, the benchmark index S&P/ASX 200 closed lower by 0.42% and settled at 8,294.10. Out of 11 sectors, 10 sectors ended lower along with the S&P/ASX 200.

Materials are the top-gaining sectors, gaining 0.96% in their index value. On the other hand, Financial and Consumer Staples are the top-losing sectors, losing 1.17% and 0.91% in their index value.

Sims Limited (ASX: SGM) and Iluka Resources Limited (ASX: ILU) are the top-gaining stocks, gaining 6.180% and 5.252% in their stock prices. On the other hand, The Star Entertainment Group Limited (ASX: SGR) and Clarity Pharmaceuticals Limited (ASX: CU6) went down by 15.385% and 2.764% respectively are the top-losing stocks.

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Top gainer for the day:

• Materials (Up 0.96%)

Top loser for the day:

• Financial (Up 1.17             %)
• Consumer Staples (Up 0.50%)

Other Factors influencing the market:

• Star Entertainment: Shares plummeted by 17.7%, adding to the heavy losses from the previous session when they shed one-third of their value.
• ANZ Banking Group Limited (ASX: ANZ): Declined less sharply compared to other major banks after Morgan Stanley upgraded the stock to "equal weight" with a price target of $27.80.
• Insignia Financial: Gained 2.2% as bidder interest in the company remained high, although it denied reports that Brookfield was considering an acquisition bid.
• Novonix Limited (ASX: NVX): Dropped 2.1% after announcing a licensing agreement with Harper International to utilize its graphitization furnace technology.
• Gold Prices: Climbed for the third consecutive day as traders assessed the Federal Reserve's potential easing measures ahead of critical US jobs data.
• Oil Prices: Increased for the second day, supported by declining US inventories despite concerns over China's economic slowdown.
• US Markets: The Dow Jones Industrial Average rose 0.25%, the S&P 500 gained 0.16%, while the NASDAQ dipped slightly by 0.06%.
• Global Markets: The Hang Seng index fell 0.79%, while the FTSE 100 recorded an increase of 0.83%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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