ASX/200 Closed Lower by 0.48%, Dragged down by Consumer Staples

By the end of the trading session on 13 March 2025, the benchmark index S&P/ASX 200 closed lower by 0.48% and settled at 7,749.10. Out of 11 sectors, 10 sectors ended lower along with the S&P/ASX 200.

A-REIT the top-gaining sector gaining 0.02% in their index value. On the other hand, Consumer Staples and Consumer Discretionary are the top-losing sectors losing 0.94% and 0.68% in their index value.

WestGold Resources Limited (ASX: WGX) and IDP Education Limited (ASX: IEL) are the top-gaining stocks, gaining 8.196% and 6.492% in their stock prices. On the other hand, Yancoal Australia Limited (ASX: YAL) and New Hope Corporation Limited (ASX: NHC) went down by 12.562% and 8.579% respectively are the top-losing stocks.

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Top gainer for the day:

• A-REIT (Up 0.02%)

Top loser for the day:

• Consumer Staples (Down 0.94%)
• Consumer Discretionary  (Down 0.68%)

Other Factors influencing the market:

• Westpac (ASX: WBC) declined 1.5% to $29.63 after Morgan Stanley lowered its price target by 6.5% to $27.30, citing multiple concerns about the bank’s outlook. The brokerage firm revised its mortgage growth and margin forecasts downward while raising expense projections.
• Silk Logistics (ASX: SLH) saw its shares plummet 22% to $1.54 following the competition regulator's concerns over stevedore DP World’s acquisition proposal.
• Mac Copper (ASX: MAC) gained 2.2% to $16.62 after Moelis Australia reaffirmed its “buy” rating and set a $24 price target, attributing the optimism to the miner’s simplified debt structure.
• Premier Investments (ASX: PMV) dropped 2.4% to $20.80 after Macquarie significantly reduced its target price to $21.61 from $29, citing a cautious economic outlook for its fashion retail chains.
• Oil prices climbed 2% on Wednesday as U.S. government data revealed tighter-than-expected crude and fuel inventories, though concerns over a potential economic slowdown and trade tariffs persisted.
• The Dow Jones dipped 0.20%, while the S&P 500 edged up 0.49%. The NASDAQ saw a stronger gain of 1.22%.
• In Asian markets, the Hang Seng declined 0.76%, whereas the FTSE 100 climbed 0.53%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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