ASX/200 Closed Lower by 1.23%, Dragged down by Energy| Kapitales Research, Australia.

ASX/200 Closed Lower by 1.23%, Dragged down by Energy

By the end of the trading session on 01 May 2024, the benchmark index S&P/ASX 200 ended lower by 1.23% and settled at 7,569.90. All 11 sectors closed lower along with the ASX 200.

Energy and Materials sectors were the top-lossing sectors, lossing 1.97% and 1.78% respectively in their index values.

Paladin Energy Limited (ASX: PDN) and Amcor PLC (ASX: AMC) are the top-gaining stocks, gaining 5.010% and 4.558% in their stock prices. On the other hand, Coronado Global Limited (ASX: CRN) and Emerald Resources Limited (ASX: EMR) are the top-losing stocks and are declining by 8.434% and 7.910% in their stock prices.

Top loser for the day:

Energy (Down 1.97%)
Materials (Down 1.78%)

Other Factors influencing the market:

Qantas shares fell by 1.2% to $5.83 amid an investigation into a potential breach of its mobile app. Reports surfaced on Wednesday indicating that travelers could access the frequent flyer details of other individuals.
BHP shares declined by 1.7% to $42.32, influenced by a drop in iron ore prices in Singapore. Additionally, Anglo American, a company targeted for takeover by BHP, stated to shareholders in London that it remains open to the possibility of being acquired by a competitor.
Both the US and Australian central banks are anticipated to adopt a more aggressive approach to combating inflation in their upcoming meetings. This expectation solidifies the belief that interest rates will remain elevated for an extended period.
Oil prices experienced continued downward pressure, driven by prospects of a ceasefire in the Middle East easing tensions. Additionally, concerns regarding elevated inflation levels weighed on the outlook for US demand ahead of the Federal Reserve meeting.
The Dow Jones Industrial Average concluded with a decline of 1.49%, the S&P 500 fell by 1.57%, and the NASDAQ retreated by 2.04%.
Conversely, the Hang Seng Index recorded a slight increase of 0.09%, while the FTSE 100 experienced a marginal decline of -0.04% during the trading session.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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