ASX/200 Closed Lower by 1.08%, Dragged down by Consumer Discretionary

By the end of the trading session on 24 May 2024, the benchmark index S&P/ASX 200 ended lower by 1.08% and settled at 7,727.60. All 11 sectors closed lower along with the ASX 200.

Consumer Discretionary and A-REIT sectors were the top-lossing sector, lossing 2.45% and 1.66% respectively in their index values.  

NRW Holdings Limited (ASX: NHW) and Challenger Limited (ASX: CGF) are the top-gaining stocks, gaining 2.826% and 2.795% in their stock prices. On the other hand, Fletcher Building Limited (ASX: FBU) and Emerald Resources Limited (ASX: EMR) are the top-losing stocks and are declining by 6.102% and 4.486% in their stock prices.

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Top loser for the day:

• Consumer Discretionary (Down 2.45%)
• A-REIT (Down 1.66%)

Other Factors influencing the market:

• Disclosures indicate that fund manager Perpetual increased its stake in the struggling casino operator Star from 7.4% to 8.8% on May 21, shortly after news emerged about takeover interest from a group that includes US hospitality operator Hard Rock.
• Shares in the online labor hire and data entry business Appen rose by 6.8% after announcing at its annual general meeting that it expects to break even on an operating basis in the 2024 financial year.
• Gold miners declined, including Newmont, which dropped by 1% to $62.40, as gold prices fell.
• Oil prices decreased due to a souring investment sentiment and concerns about a weakening physical market ahead of the US summer driving season.
• The Dow closed down by 1.53%, the S&P 500 fell by 0.74%, and the NASDAQ dropped by 0.39%.
• The Hang Seng index declined by 1.56%, and the FTSE 100 decreased by 0.37% today.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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