ASX/200 Closed Lower by 0.91%, Dragged down by Information Technology

By the end of the trading session on 11 March 2025, the benchmark index S&P/ASX 200 closed lower by 0.91% and settled at 7,890.10. Out of 11 sectors, 08 sectors ended lower along with the S&P/ASX 200.

Utilities and Energy the top-gaining sector gaining 1.37% and 0.76% in their index value. On the other hand, Information Technology and Industrials are the top-losing sectors losing 3.95% and 1.98% in their index value.

New Hope Corporation Limited (ASX: NHC) and Resmend Inc. (ASX: RMD) are the top-gaining stocks, gaining 3.241% and 2.963% in their stock prices. On the other hand, Nickel Industrials Limited (ASX: NIC) and Ramelius Resources Limited (ASX: RMS) went down by 19.868% and 17.205% respectively are the top-losing stocks.

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Top gainer for the day:

• Utilities (Up 1.37%)
• Energy (Up 0.76%)

Top loser for the day:

• Information Technology (Down 3.95%)
• Industrials (Down 1.98%)

Other Factors influencing the market:

• PolyNovo (ASX: PNV) plunged 8.6% following the immediate resignation of CEO Swami Raote. This development comes just days after the company disclosed it had been working on an agreement for his departure.
• Qantas (ASX: QAN) declined 8.8% after trading ex-dividend on Tuesday. The drop coincided with Delta Air Lines slashing its first-quarter profit forecast by nearly half due to weaker domestic travel demand.
• DigiCo Infrastructure REIT (ASX: DCG) lost 6.4% after Barrenjoey initiated coverage with a “neutral” rating, highlighting potential risks that could impact earnings multiples for the $2.2 billion data centre landlord.
• Ramelius Resources (ASX: RMS) tumbled 16.9% after the gold miner flagged $95 million in upgrade costs for its Mt Magnet mill, aimed at increasing capacity and reducing milling expenses.
• Guzman y Gomez (ASX: GYG) dipped 3.9% after releasing 15.4 million shares from escrow, collectively valued at approximately $515.1 million.
• Oil prices dropped to a six-month low as economic concerns in the U.S. and China, the world’s largest crude consumers, raised fears that new U.S. tariffs could weaken global energy demand.
• On Wall Street, the Dow Jones fell 2.08%, the S&P 500 declined 2.70%, and the NASDAQ dropped 4.00% by market close.
• In global markets, the Hang Seng Index is down 0.72%, while the FTSE 100 has declined 0.92% today.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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