ASX/200 Closed Lower by 0.57%, Dragged down by Telecommunications Services

By the end of the trading session on 20 November 2024, the benchmark index S&P/ASX 200 closed lower by 0.57% and settled at 8,326.30. Out of 11 sectors, 09 sectors ended lower along with the S&P/ASX 200.

Healthcare and Utilities are the top-gaining sectors, gaining 0.27% and 0.19% in their index value. On the other the hand, Telecommunications Services and Industrials are the top-losing sectors, losing 1.53% and 1.31% in their index value.

Tabcorp Holdings Limited (ASX: TAH) and West African Resources Limited (ASX: WAF) are the top-gaining stocks, gaining 2.777% and 2.397% in their stock prices. On the other hand, Nueren Pharmaceuticals Limited (ASX: NEU) and New Hope Corporation Limited (ASX: NHC) went down by 7.500% and 3.637% respectively are the top-losing stocks.

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Top gainer for the day:

• Healthcare (Up 0.27%)
• Utilities (Up 0.19%)

Top loser for the day:

• Telecommunications Services (Down 1.53%)
• Industrials (Down 1.31%)

Other Factors influencing the market:

• Amcor (ASX: AMC): The dual-listed packaging giant dropped 1.2% to $15.51 after announcing its acquisition of New York-listed Berry Group for approximately $US8.4 billion ($13 billion).

• PWR Holdings (ASX: PWH): Shares plummeted 24.6% to $6.85 following a forecast of lower profit after tax for the first half of FY25, likely below the nearly $10 million recorded in the prior period.
• Nick Scali (ASX: NCK): Shares fell 1.7% to $13.84 as the furniture retailer cautioned its ability to meet prior guidance due to the liquidation of one of its freight forwarders.
• NexGen Energy (ASX: NXG, TSX: NXE): The dual-listed uranium developer surged 5.9% to $12.90 after receiving a key permit from Canadian regulators for its Rook I project.
• US Dollar Outlook: Indicators suggest the Trump-driven rally in the US dollar may have plateaued, with bullish sentiment cooling post-election.
• Oil Prices: Oil remained steady as an industry report pointed to a potential build in US crude inventories ahead of official government data.
• The US markets showed mixed results, with the Dow Jones down 0.28%, the S&P 500 up 0.40%, and the NASDAQ rising 1.04%.
• Globally, the Hang Seng declined 0.07%, while the FTSE 100 fell 0.13%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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