ASX/200 Closed Lower by 0.82%, Dragged down by Materials

By the end of the trading session on 01 October 2024, the benchmark index S&P/ASX 200 closed lower by 0.82% and settled at 8,201.80. Out of 11 sectors, 06 sectors ended lower along with the S&P/ASX 200.

Healthcare and Utilities are the top- gaining sectors, gaining 0.90% and 0.68% in their index value. Whereas,  Materials and Financial are the top-losing sectors, losing 2.31% and 1.56% in their index value.

Sigma Healthcare Limited (ASX: SIG) and REA Group Limited (ASX: REA) are the top-gaining stocks, gaining 22.222% and 4.527% in their stock prices. On the other hand, The Star Enetrtainment Limited  (ASX: SGR) and Tabcorp Holdings Limited (ASX: TAH) went down by 8.475% and 4.456% respectively are the top-losing stocks.

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Top gainer for the day:

• Healthcare (Up 0.90%)
• Utilities (Up 0.68%)

Top loser for the day:

• Materials (Down 2.31%)
• Financial (Down 1.56%)

Other Factors influencing the market:

• Sigma Healthcare shares surged 18% to a 52-week high of $1.70 after announcing new data-sharing rules aimed at easing regulatory concerns regarding its proposed $700 million merger with Chemist Warehouse.

• Qantas shares dropped 3.4% to $7.16 following news that competitor Qatar Airways is seeking to acquire a 25% stake in Virgin Australia.
• REA Group has confirmed it will abandon its takeover bid for Rightmove after the UK real estate site rejected REA’s fourth offer in a matter of weeks.
• A significant spike in retail sales in August, surpassing analysts’ expectations, suggests that the Reserve Bank of Australia may not be in a hurry to reduce interest rates.
• Oil prices stabilized at the start of the fourth quarter as Middle Eastern geopolitical tensions, including Israel's ground raids in Lebanon, balanced against the potential return of Libyan oil supply.
• The Dow Jones closed up by 0.04%, the S&P 500 rose by 0.42%, and the NASDAQ increased by 0.36%.
• The Hang Seng Index climbed by 2.43%, while the FTSE 100 dropped by 1.01%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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