ASX/200 Closed Lower by 0.49%, Dragged down by Materials

By the end of the trading session on 30 May 2024, the benchmark index S&P/ASX 200 ended lower by 0.49% and settled at 7,628.20.  Out of 11 sectors, 06 sectors closed lower along with the ASX 200.

Consumer Discretionary and Telecommunications Services were the top-gaining sector, gaining 0.74% and 0.37% respectively in their index values. Materials and Utilities were the top-lossing sector, lossing 1.86% and 1.43% respectively in their index values. 

Pro Medicus Limited (ASX: PME) and NRW Holdings Limited (ASX: NWH) are the top-gaining stocks, gaining 3.606% and 3.448% in their stock prices. On the other hand, Regis Resources Limited (ASX: RRL) and Genesis Minerals Limited (ASX: GMD) are the top-losing stocks and are declining by 6.511% and 5.760% in their stock prices.

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Top gainer for the day:

• Consumer Discretionary (Down 0.74%)
• Telecommunications Services (Down 0.37%)

Top loser for the day:

• Materials (Down 1.86%)
• Utilities (Down 1.43%)

Other Factors influencing the market:

• BHP Group dropped 1.7% to $44.30 after deciding not to pursue a fourth takeover bid for Anglo American, following the rejection of its request for another extension.
• NRW Holdings rose 3.5% to $3, making it one of the best performers on the benchmark, after analysts at Jarden upgraded the contracting company to a buy rating.
• Catapult Sports, a wearable sports hardware company, surged 9.7% to $1.70 following a narrowed full-year net loss of $US19.1 million and an 18.5% increase in sales to $US100 million.
• The Reserve Bank of Australia’s chief economist, Sarah Hunter, warned that price pressures remain strong in some sectors of the economy.
• The Dow closed down by 1.06%, the S&P 500 fell by 0.74%, and the NASDAQ decreased by 0.58%.
• The Hang Seng declined by 1.65%, and the FTSE 100 dropped by 0.86%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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