ASX/200 Closed Lower by 0.56%, Dragged down by Materials

By the end of the trading session on 16 December 2024, the benchmark index S&P/ASX 200 closed lower by 0.56% and settled at 8,249.50. Out of 11 sectors, 09 sectors ended lower along with the S&P/ASX 200.

Financials and Consumer Staples and are the top-gaining sectors, gaining 0.17% and 0.10% in their index value. On the other hand, Materials and A-REIT are the top-losing sectors, losing 2.04% and 1.31% in their index value.

The Star Entertainment Group Limited (ASX: SGR) and Siteminder Limited (ASX: SDR) are the top-gaining stocks, gaining 5.128% and 4.467% in their stock prices. On the other hand, HMC Capital Limited (ASX: HMC) and Ventia Services Group Limited (ASX: VNT) went down by 13.665% and 9.215% respectively are the top-losing stocks.

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Top gainer for the day:

• Financial (Up 0.17%)
• Consumer Staples (Up 0.10%)

Top loser for the day:

• Materials (Down 2.04%)
• A-REIT (Down 1.31%)

Other Factors influencing the market:

• Star Entertainment shares rose by 5.1%, reaching 20.5¢, following the resignation of its second Gold Coast CEO in seven months late last week.
• DigiCo, a recent ASX debutant in the data centre sector, dropped 5.5% to $4.30 during its second trading session. The stock is now down over 15% from its $5 offer price.
• The co-founders of Chemist Warehouse, Jack and Sam Gance, along with Mario Verrocchi, acknowledged receiving feedback that transitioning from a private to a public company through their $30 billion merger with Sigma Healthcare might pose challenges.
• Analysts at Judo Bank believe the Reserve Bank of Australia (RBA) will delay its first interest rate cut in February, citing strong employment figures as a key factor.
• Bitcoin surged to an all-time high, continuing its rally fueled by president-elect Donald Trump's endorsement of digital assets and his vision to position the US as a global leader in the sector.
• Oil prices remained steady after a weekly gain, as the US hinted at stricter sanctions on Russian crude and Chinese officials pledged to support their country's economic growth.
• On Wall Street, the Dow Jones fell by 0.20%, the S&P 500 ended flat, while the NASDAQ gained 0.12%.
• In global markets, the Hang Seng declined by 2.09%, and the FTSE 100 dropped by 0.14%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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