ASX/200 Closed Lower by 1.16%, Dragged down by Information Technology

By the end of the trading session on 28 February 2025, the benchmark index S&P/ASX 200 closed lower by 1.16% and settled at 8,172.40. Out of 11 sectors, 10 ended lower along with the S&P/ASX 200.

Communication Services are the top-gaining sector, gaining 0.24% and in their index value. On the other hand, Information Technology and Materials is the top-losing sector, losing 2.86% and 2.47% in their index value.

Pexa Group Limited (ASX: PXA) and Life360 Inc. (ASX: 360) are the top-gaining stocks, gaining 8.077% and 7.176% in their stock prices. On the other hand, The Star Entertainment Group Limited (ASX: SGR) and John Lyng Group Limited (ASX: JLG) went down by 15.385% and 9.894% respectively are the top-losing stocks.

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Top gainer for the day:

• Communication Services (Up 0.24%)

Top loser for the day:

• Information Technology  (Down 2.86%)
• Materials (Down 2.47%)

Other Factors influencing the market:

• Endeavour Group fell 7.2% to $4.17 after posting a 15.1% decline in interim profit, prompting the retailer and hotel operator to cut its dividend to 12.5¢.
• Harvey Norman gained 2.6% to $5.22, driven by half-year sales revenue reaching $4.8 billion, supported by increased franchise revenues and multiple international store openings.
• TPG Telecom climbed 7.2% to $23.30 following a 3.4% rise in underlying earnings, totaling $2 billion. The country’s third-largest telecom provider credited its growing mobile customer base to a new network-sharing deal with Optus.
• Life360 surged 7.2% to $23.30 after surpassing earnings expectations, nearing 80 million global users for its widely used family-tracking app.
• Vista Group jumped 16.4% to $3.40, benefiting from a surge in 2024 earnings, as more clients transitioned to its cloud-based data analytics solutions.
• Johns Lyng Group dropped 10.3% after trading ex-dividend on Friday.

• Gold prices declined as the US dollar strengthened following Donald Trump's announcement that 25% tariffs on Canada and Mexico would take effect on March 4.
• The Dow Jones dipped 0.45%, reflecting investor caution over market conditions, the S&P 500 slid 1.59%, weighed down by mixed corporate earnings and the NASDAQ lost 2.78%, driven by tech sector losses.
• The Hang Seng Index dropped 2.65%, while the FTSE 100 edged up 0.28%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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