ASX/200 Closed Lower by 0.61%, Dragged down by Consumer Discretionary

By the end of the trading session on 23 January 2025, the benchmark index S&P/ASX 200 closed lower by 0.61% and settled at 8,378.70. Out of 11 sectors, 09 sectors ended lower along with the S&P/ASX 200.

Utilities and Information Technology are the top-gaining sectors, gaining 0.43% and 0.30% in their index value. On the other hand, Consumer Discretionary and Materials are the top losing sectors, losing 1.60% and 1.53% in their index value.

Regis Resources Limited  (ASX: RRL) and Neuren Pharmaceuticals Limited (ASX: NEU) are the top-gaining stocks, gaining 3.883% and 3.854% in their stock prices. On the other hand, Iluka Resources Limited  (ASX: ILU) and Liontown Resources Limited (ASX: LTR) went down by 6.465% and 6.383% respectively are the top-losing stocks.

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Top gainer for the day:

• Utilities (Up 0.43%)
• Information Technology  (Up 0.30%)

Top loser for the day:

• Consumer Discretionary  (Down 1.60%)
• Materials (Down 1.53%)

Other Factors influencing the market:

• Insignia Financial Ltd.: Shares rose 2% to $4.52 after Bain Capital increased its bid for the wealth manager to $4.60 per share, matching rival CC Capital’s offer.
• Praemium Ltd.: Shares surged 11.8% to 85¢ on Thursday, driven by strong net inflows across its SMA and Powerwrap investment products.
• Peregrine Gold Ltd.: Shares climbed 3.5% to 15¢ following the announcement of its West Australian gold project sale to Capricorn Metals in a cash and equity deal.
• Evolution Mining Ltd.: Shares declined 3.9% to $5.60 as Citi analysts downgraded the gold miner to “neutral” after its 83% gain over the past year.
• China’s Equity Market: Authorities are encouraging local mutual funds and insurers to increase stock investments as part of efforts to support the struggling equity market amid potential tariff hikes.
• Asia Crude Oil: Rising crude cargo costs due to China and India replacing Russian oil are leading refiners in other parts of Asia to consider reducing run rates.
• The US stock markets closed positively, with the Dow Jones rising by 1.24%, the S&P 500 gaining 0.88%, and the NASDAQ increasing by 0.64%.
• In contrast, other global indices showed a slight decline, with the Hang Seng down by 0.33% and the FTSE 100 falling by 0.04%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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