ASX/200 Closed Lower by 1.29%, Dragged down by Information Technology

By the end of the trading session on 25 July 2024, the benchmark the S&P/ASX200 closed lower Monday, dropping 16.80 points or 1.29% to 7,861.20 and crossing below its 20-day moving average.

Information Technology and Energy sectors were the top declining sectors, declined by 2.68% and 1.80% in their index values.

Coronado Global Resources Inc. (ASX: CRN) and Telix Pharmaceuticals Limited (ASX: TLX) are the top-gaining stocks, gaining 5.200% and 1.962% in their stock prices. On the other hand, REGIS Resources Limited (ASX: RRL) and Block Inc. (ASX: SQ2) were the top losers, with a 9.686 % and 6.729% drop in share prices, respectively.

Copyright © 2022 Kapitales Research Image Information: ASX/200 Closed Lower by 1.29%, Dragged down by Information Technology

Top Loser for the day:        

• Information Technology (Down 2.21%)
• Energy (Down 1.59%)

Other Factors influencing the market:

• At midday, Australian stocks had a 1% decline due to widespread losses in all industries. A second day of steep declines in mining stocks followed a bad run due to concerns about China's economy.
• The Nasdaq index fell 3.6% on Wall Street, marking the worst performance since 2022 as investors booked profits and were concerned about indications of a US downturn.
• The financial services behemoth, Macquarie, informed investors this morning that it was still "cautious" about the outlook after its investment banking division's poor quarter hurt earnings in an otherwise flat result. At midday, the shares dropped 3.5% to AU$201.48.
• With the indicated NPAT performance lower on a prior corresponding period basis, we believe the update reads worse than the market anticipated," Macquarie stated.
• In addition, ANZ Bank provided the market with updates on its investigations into its data reporting procedures, the claims pertaining to a bond transaction in 2023, and issues related to behavior and conduct in its Sydney dealing room.
• Employment market Seek has recorded a AU$141 million decline in the value of its Zhaopin Chinese marketplace, which it attributed to China's fragile economy. Stocks dropped 3% to AU$19.92.
• The update from Fortescue Metals fell short of expectations, causing a 3.6% loss to AU$20.55. Gold miner Newmont increased its value to AU$72.31 by 1.3%.
• Oil prices settled higher in the previous session, recovering from a recent wobble as traders weighed a larger-than-expected dip in U.S. crude inventories against a softer global demand outlook.
• The Dow has closed by 1.25%, the S&P 500 closed up by 2.31%, and the NASDAQ ended higher by 3.64%.
• Hang Seng is down by 0.91%, and FTSE 100 is down by 0.17%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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