ASX/200 Closed Lower by 1.88%, Dragged down by Materials

By the end of the trading session on 04 September 2024, the benchmark index S&P/ASX 200 closed lower by 1.88% and settled at 7,950.50. All 11 sectors ended lower along with the S&P/ASX 200.

Materials and Energy are the top-losing sectors, losing 3.03% and 2.99% in their index value.

Orora Limited (ASX: ORA) and Nanosonics Limited (ASX: NAN) are the top-gaining stocks, gaining 7.200% and 3.303% in their stock prices. On the other hand, Deep Yellow Limited (ASX: DYL) and De Grey Mining Limited (ASX: DEG) went down by 8.838% and 8.714% respectively are the top-losing stocks.

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Top loser for the day:

• Materials (Down 3.03%)
• Energy (Down 2.99%)

Other Factors influencing the market:

• Fortescue Metals (ASX: FMG) dropped 8.4% due to falling iron ore prices and the stock trading ex-dividend, making it the worst performer on the ASX 200.
• Orora shares surged 7.6% after announcing the sale of its North American packaging solutions business to Veritiv for $1.775 billion.
• Cettire founder Dean Mintz increased his stake in the company from 29.98% to 32.98% by purchasing 11.4 million shares in the online luxury retailer.
• The Australian dollar fell sharply following weaker-than-expected US factory activity data, raising concerns about the global economy.
• Oil prices plummeted, wiping out gains for the year, as a potential deal to restore supplies from Libya shifted focus to concerns over weak global demand.
• US markets declined, with the Dow down 1.51%, the S&P 500 falling 2.12%, and the NASDAQ dropping 3.25%. 
• Asian and European markets also saw losses, with the Hang Seng down 1.24% and the FTSE 100 down 0.78%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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