ASX/200 Closed Lower by 1.70%, Dragged down by Information Technology

By the end of the trading session on 19 December 2024, the benchmark index S&P/ASX 200 closed lower by 1.70% and settled at 8,168.20. All of 11 sectors ended lower along with the S&P/ASX 200.

Information Technology and Materials are the top-losing sectors, losing 2.52% and 2.02% in their index value.

Credot Corp Group Limited (ASX: CCP) and Insignia Financial Limited (ASX: IFL) are the top-gaining stocks, gaining 7.646% and 4.347% in their stock prices. On the other hand, Deep Yellow Limited (ASX: DYL) and Megaport Limited (ASX: MP1) went down by 12.084% and 10.565% respectively are the top-losing stocks.

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Top loser for the day:

• Information Technology (Down 2.52%)
• Materials (Down 2.02%)

Other Factors influencing the market:

• Gold Price Impact: A declining gold price, driven by a stronger dollar, negatively affected Australian gold miners. Northern Star Resources fell 4.1% to close at $15.33.
• Profit-Taking Wave: Major gainers on the sharemarket faced profit-taking. Megaport, a data centre provider, reversed its previous session's gains, dropping 10.6% to $7.45.
• Biotech Surge: Mesoblast emerged as the star performer, with its shares soaring 54% to $3.05 following FDA approval for its cell therapy, Ryconcil, targeting a life-threatening complication from bone marrow transplants.
• Lithium Investment Boost: Patriot Battery Metals saw a 15.9% increase to $0.37 after Volkswagen invested $76.8 million for a 9.9% stake in the company.
• Woodside Exit: Woodside closed at $23.10 after agreeing with Chevron to exit the $US34 billion Wheatstone LNG venture in Western Australia.
• ANZ Decline: ANZ’s shares dropped 2.6% to $28.61 amid a broader sell-off in banks and significant shareholder opposition, with over a third voting against its remuneration report.
• Wall Street faced significant losses, with the Dow Jones falling by 2.58%, the S&P 500 dropping 2.95%, and the NASDAQ slipping 3.56%.
• In global markets, the Hang Seng declined 0.70%, while the FTSE 100 managed a modest gain of 0.05%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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