ASX/200 Closed Lower by 1.23%, Dragged down by Information Technology

By the end of the trading session on  13 January 2025, the benchmark index S&P/ASX 200 closed lower by 1.23% and settled at 8,191.90. Out of 11 sectors, 09 sectors ended lower along with the S&P/ASX 200.

Energy and Utilities are the top-gaining sectors, gaining 1.82% and 0.87% in their index value. On the other hand, Information Technology and Financial are the top-losing sectors, losing 3.35% and 2.08% in their index value.

The Star Entertainment Group Limited (ASX: SGR) and Gold Road Resources Limited (ASX: GOR) are the top-gaining stocks, gaining 13.636% and 3.703% in their stock prices. On the other hand, Premier Investments Limited (ASX: PMV) and Netwealth Group Limited (ASX: NWL) went down by 15.921% and 9.941% respectively are the top-losing stocks.

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Top gainer for the day:

• Energy (Up 1.82%)
• Utilities (Up 0.87%)

Top loser for the day:

• Information Technology (Up 3.35%)
• Financial (Up 2.08%)

Other Factors influencing the market:

• The Star Entertainment Group surged 13.6% to 13¢ following the disclosure by Chinese investor Xingchun Wang of a 5.52% stake in the struggling casino operator. Last week, the company's shares plummeted 42% after revealing it had only $79 million in cash reserves and concerns from lenders about its financial stability.
• Energy Transition Minerals jumped 20.3% to 9¢ after appointing former foreign minister Julie Bishop as an adviser. The company is currently engaged in a legal dispute with Greenland over plans for a rare earths mine.
• Netwealth Group Limited (ASX: NWL) fell 9.9% to close at $27.36 after Citi downgraded the stock to "sell," citing reduced earnings estimates due to negative market trends in December.
• Novonix Limited shares dropped 5.6% to 68¢ after the US Department of Energy declined to grant the battery materials producer certain tax credits, which would have supported an additional loan for its Tennessee facility.
• NRW Holdings Limited closed 9.5% lower at $3.45 following the announcement of Chief Financial Officer Richard Simons' resignation.
• Oil prices climbed to a four-month high as new US sanctions on Russia’s energy sector threatened to tighten crude supplies in an already constrained global market.
• The Dow Jones dropped 1.63%, the S&P 500 declined 1.54%, and the NASDAQ fell 1.63%.
• In global markets, the Hang Seng Index is down 1.08%, while the FTSE 100 has slipped 0.86% as of now.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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