By the end of the trading session on 24 February 2022, benchmark index ASX 200 dropped 2.985% and settled at 6990.6. This was the weakest single-day performance of the index in 2022. All indices on ASX settled in the red zone after Russia unveiled Ukraine operations. The information sector was the weakest performer for the day. It slipped by 6.4% and settled at 1510.5. Next in line were the materials and consumer discretionary sectors, which dropped by 4.33% and 3.66%, respectively.
Global stocks and US bonds dropped on the day. On the other hand, US dollar & oil prices surged as the Russian troops entered Ukrainian cities on the Black Sea and Ukraine. Further, Ukrainian military command centres in Kyiv and Kharkiv were attacked by a missile strike.
The attacks came after President Putin’s warning on Thursday to Ukrainian soldiers to lay down their weapons and go back home. He also authorised special military operations in the Donbass region of Ukraine.
Because of the prevailing fear amongst the investors amid the existing environment, it seems that they have rushed from the risky assets and switched to less risky investments like government bonds and gold.
While the overall market ended in players like Cimic Group Limited (ASX: CIM) and Perseus Mining Limited (ASX: PRU) were the top gainers with 33.414% and 12.264% growth in the share price. CIM shares are up due to the update related to the Hochtief takeover offer. PRU shares grew post the release of solid half-yearly results.
Life360 Inc (ASX: 360) and Appen Limited (ASX: APX) from the IT sector dropped significantly by 28.768% and 28.705%, respectively. Life360 reported a statutory net loss of US$33.6 million, which was US$7.3 million in the previous corresponding period.
Worst performing sectors for the day:
Information Technology (Down 6.40%)
Material (down 4.33%)
Consumer Discretionary (Down 3.66%)
Other Factors influencing the market:
NASDAQ Composite index dropped 2.57%, Dow Jones by 1.38%, and S&P 500 by 1.84%.
Brent crude prices have gone up.
The Hang Seng is down -3.35%, and the FTSE 100 is up 0.05%.
Top 5 Gainers and Losers:
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Market Close Commentary: 24 February 2022
By the end of the trading session on 24 February 2022, benchmark index ASX 200 dropped 2.985% and settled at 6990.6. This was the weakest single-day performance of the index in 2022. All indices on ASX settled in the red zone after Russia unveiled Ukraine operations. The information sector was the weakest performer for the day. It slipped by 6.4% and settled at 1510.5. Next in line were the materials and consumer discretionary sectors, which dropped by 4.33% and 3.66%, respectively.
Global stocks and US bonds dropped on the day. On the other hand, US dollar & oil prices surged as the Russian troops entered Ukrainian cities on the Black Sea and Ukraine. Further, Ukrainian military command centres in Kyiv and Kharkiv were attacked by a missile strike.
The attacks came after President Putin’s warning on Thursday to Ukrainian soldiers to lay down their weapons and go back home. He also authorised special military operations in the Donbass region of Ukraine.
Because of the prevailing fear amongst the investors amid the existing environment, it seems that they have rushed from the risky assets and switched to less risky investments like government bonds and gold.
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While the overall market ended in players like Cimic Group Limited (ASX: CIM) and Perseus Mining Limited (ASX: PRU) were the top gainers with 33.414% and 12.264% growth in the share price. CIM shares are up due to the update related to the Hochtief takeover offer. PRU shares grew post the release of solid half-yearly results.
Life360 Inc (ASX: 360) and Appen Limited (ASX: APX) from the IT sector dropped significantly by 28.768% and 28.705%, respectively. Life360 reported a statutory net loss of US$33.6 million, which was US$7.3 million in the previous corresponding period.
Worst performing sectors for the day:
Other Factors influencing the market:
Top 5 Gainers and Losers:
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Suite 1A, Level 2, 802-808 Pacific Highway, Gordon NSW 2072, Australia | 1800 005 780 | info@kapitales.com.au.au