ASX/200 Closed Lower by 1.33%, Dragged down by Materials

By the end of the trading session on 11 June 2024, the benchmark index S&P/ASX 200 ended lower by 1.33% and settled at 7,755.40.  Out of 11 sectors, 10 sectors closed lower along with the ASX 200.

Consumer Discretionary was the top-gaining sector, gaining 0.18% respectively in their index values. Materials and A-REIT were the top-losing sectors, losing 2.65% and 2.14% respectively in their index values.

Bapcor Limited (ASX: BAP) and Strike Energy Limited (ASX: STX) are the top-gaining stocks, gaining 13.188% and 10.526% in their stock prices. On the other hand, West African Resources Limited (ASX: WAF) and Genesis Minerals Limited (ASX: GMD) are the top-losing stocks and are declining by 8.958% and 8.669% in their stock prices.

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Top gainer for the day:

• Consumer Discretionary (Up 0.18%)

Top loser for the day:

• Materials (Down 2.65%)
• A-REIT (Down 2.14%)

Other Factors influencing the market:

• The big four banks ended weaker, with Westpac and National Australia Bank each declining over 1%, closing at AU$26.69 and AU$34.87, respectively.
• In corporate news, AGL Energy dropped 1.7% to AU$10.31 as it announced plans to invest AU$150 million to acquire a 20% stake in Kaluza, a technology platform for managing electricity supply and billing.
• Automotive parts retailer Bapcor was one of the index’s top performers, surging 14% to AU$4.97 after receiving an unsolicited bid from US-based Bain Capital to purchase its shares at AU$5.40 each.
• Oil prices rose approximately 3% to a one-week high on Monday, driven by optimism about increased fuel demand this northern hemisphere summer, despite a stronger US dollar and expectations of prolonged higher interest rates from the US Federal Reserve.
• The Dow Jones Industrial Average closed up 0.18%, the S&P 500 gained 0.26%, and the NASDAQ increased by 0.35%.
• The Hang Seng Index declined by 0.65%, and the FTSE 100 dropped by 0.20% today.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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