ASX/200 Closed Lower by 1.32%, Dragged down by Consumer Discretionary

By the end of the trading session on 12 March 2025, the benchmark index S&P/ASX 200 closed lower by 1.32% and settled at 7,786.20. Out of 11 sectors, 10 sectors ended lower along with the S&P/ASX 200.

Utilities the top-gaining sector gaining 0.01% in their index value. On the other hand, Consumer Discretionary and Industrials are the top-losing sectors losing 2.02% and 1.88% in their index value.

Nickel Industries Limited (ASX: NIC) and Cornado Global Resources Inc. (ASX: CRN) are the top-gaining stocks, gaining 8.264% and 5.825% in their stock prices. On the other hand, IPH Limited (ASX: IPH) and Ramelius Resources Limited (ASX: RMS) went down by 10.000% and 8.658% respectively are the top-losing stocks.

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Top gainer for the day:

• Utilities (Up 0.01%)

Top loser for the day:

• Consumer Discretionary (Down 2.02%)
• Industrials (Down 1.88%)

Other Factors influencing the market:

• Nickel Industries Limited (ASX: NIC), the largest pure-play nickel producer on the ASX, rebounded 8.3% to 65¢ on Wednesday after experiencing a sharp decline in the previous session. The drop occurred as a major shareholder offloaded half of its holdings at a price below market value.
• IPH Limited (ASX: IPH), a leading patent and trademark firm, saw its stock tumble 10% to $4.23, making it the worst-performing stock on the ASX 200. The decline followed the company’s announcement that long-time Chief Financial Officer John Wadley is stepping down.
• The European Union will introduce counter-tariffs on €26 billion (US$28.33 billion) worth of US goods next month in retaliation for US tariffs on steel and aluminium, as stated by the European Commission on Wednesday.
• Gold prices remained firm, supported by safe-haven demand, as market volatility increased following US President Donald Trump’s fluctuating stance on tariffs and his latest remarks easing concerns about a potential recession.
• Oil prices extended gains after the US reduced its global oversupply forecast, aligning with similar outlook revisions from the International Energy Agency and other market analysts.
• On Wall Street, the Dow Jones declined 1.14%, the S&P 500 fell 0.76%, and the NASDAQ dropped 0.18% by the close of trading.
• In global markets, the Hang Seng Index was down 0.18%, while the FTSE 100 declined 1.21%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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