ASX/200 Closed Lower by 0.87%, Dragged Down by Utilities

By the end of the trading session on 18 October 2024, the benchmark index S&P/ASX 200 closed lower by 0.87% and settled at 8,283.20. All of the 11 sectors ended lower along with the S&P/ASX 200.

Utilities and A-REIT are the top-losing sectors, losing 3.49% and 1.97% in their index value.

Perpectual Limited (ASX: PPT) and Telix Pharmaceuticals Limited (ASX: TLX) are the top-gaining stocks, gaining 4.631% and 4.571% in their stock prices. On the other hand, Flight Centre Travel Group Limited  (ASX: FLT) and Corporate Travel Management Limited (ASX: CTD) went down by 20.444% and 9.505% respectively are the top-losing stocks.

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Top loser for the day:

• Utilities (Down 3.49%)
• A-REIT (Down 1.97%)

Other Factors influencing the market:

• Flight Centre Travel Group experienced the most significant decline in the index after a trading update indicated a potential profit downgrade, with shares dropping over 20% to $17.20, marking the steepest one-day fall since the pandemic began.
• Harvey Norman, a white goods retailer, saw its shares decrease by 1.8% to $4.83 after losing a legal case against the Australian Securities and Investments Commission concerning misleading advertisements.
• Regal Partners shares fell by 2.8% to $3.78 after being charged by South Korean regulators for violating securities trading laws.
• Gold prices reached a new all-time high, exceeding $US2,700 per ounce for the second consecutive day.
• Crude oil futures rose slightly on Friday, buoyed by an unexpected drop in U.S. oil inventories and ongoing tensions in the Middle East; however, prices are set for their largest weekly loss in over a month due to concerns about lower demand.
• U.S. Market Performance: The Dow Jones Industrial Average closed up by 0.37%, the S&P 500 decreased by 0.02%, and the NASDAQ ended slightly higher by 0.04%.
• Global Indices: The Hang Seng index is trading flat, while the FTSE 100 rose by 0.67%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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