S&P/ASX 200 Closed in Red Today; Recorded Its Worst One-Day Decline in More Than a Month

By the end of the trading session on 1 July 2024, the benchmark The S&P/ASX200 closed lower Monday, dropping 16.80 points or 0.22% to 7,750.70 and crossing below its 20-day moving average.

The Information Materials, A-REIT, Energy and Utilities were the gaining sectors, gained 1.02%, 0.81%, 0.35% and 0.05% in its index value. On the other hand, information Technology and health care sectors were the top declining sectors, declined by 2.21% and 1.59% in their index values.

CORONADO GLOBAL RESOURCES INC. (ASX: CRN) and WHITEHAVEN COAL LIMITED (ASX: WHC) were the top gainers, with 8.860% and 6.274% growth in share prices, respectively. On the other hand, STRIKE ENERGY LIMITED (ASX: STX) and PRO MEDICUS LIMITED (ASX: PME) were the top losers, with a -16.072% and -5.305% drop in share prices, respectively.

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Top Performers for the day:

• MATERIALS (Up 1.02%)
• A-REIT (Up 0.81%)

Top Loser for the day:                                    

• INFORMATION TECHNOLOGY (Down 2.21%)
• HEALTHCARE (Down 1.59%)

Other Factors influencing the market:

• The S&P/ASX200 closed lower Monday, dropping 16.80 points or 0.22% to 7,750.70 and crossing below its 20-day moving average. The bottom performing stocks in this index were STRIKE ENERGY LIMITED and PRO MEDICUS LIMITED, down 16.07% and 5.31% respectively. The index has lost 0.58% for the last five days, but sits 2.02% below its 52-week high.
• Sectors ended mixed. 7 of 11 sectors were lower along with the S&P/ASX 200 Index. Materials was the best performing sector, gaining +1.02% and +0.18% for the past five days.
• As of July 1, 2024, the monthly CPI indicator rose by 4.2% in the 12 months to June, up from 4.0% in May. Excluding volatile items and holiday travel, the CPI indicator also increased to 4.1% in June, down slightly from 4.2% in May, while annual trimmed mean inflation remained stable at 4.4%.
• As of July 1, 2024, oil prices have shown resilience with Brent crude hovering near $87 per barrel, reflecting ongoing uncertainties. Key market influencers include potential OPEC+ output adjustments, persistent geopolitical tensions in the Middle East, and fluctuating U.S. economic indicators.
• As of July 1, 2024, the Dow Jones Industrial Average closed slightly lower by 0.3%, the S&P 500 decreased by 0.4%, and the NASDAQ fell by 0.6%. Market movements reflect continued concerns over mixed economic indicators, inflation worries, and expectations of potential interest rate adjustments.
• As of July 1, 2024, the Hang Seng Index has extended its decline, falling by 1.2%, reflecting ongoing regional economic uncertainties and corporate earnings concerns. Similarly, the FTSE 100 has decreased by 0.3%, highlighting broader market sentiment affected by economic data fluctuations.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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