S&P/ASX 200 Closed In Red Today; Dragged Down By Mining Stocks

By the end of the trading session on 12 November 2024, the benchmark index S&P/ASX 200 ended lower by 0.13% and settled at AU$8,255.60. Out of 11 sectors, 4 sectors closed lower along with the ASX 200.

The Information Technology and Telecommunication Services sectors were the only gaining sectors, gained 1.39% and 0.70% in its index value. On the other hand, the Energy and Materials sectors were the top 2 declining sectors, declined by 1.66% and 1.41% in their index values.

Block Inc. (ASX: SQ2) and Pilbara Minerals Limited (ASX: PLS) were the top gainers, with 10.702% and 5.743% growth in share prices, respectively. On the other hand, Paladin Energy Limited (ASX: PDN) and Deep Yellow Limited (ASX: DYL) were the top losers, with a 28.926% and 6.950% drop in share prices, respectively.

Copyright © 2022 Kapitales Research

Top Performers for the day:

• Information Technology (Up 1.39%)
• Telecommunication Services (Up 0.70%)

Top Loser for the day:                                    

• Energy (Down 1.66%)
• Materials (Down 1.41%)

Other Factors influencing the market:

• Australian share market closed lower due to declining iron ore, gold, and oil prices as the sell-down in commodities gathered steam.
• BHP Group Limited’s share price declined after iron ore prices slipped around 2% to near US$100 per tonne.
• Paladin Energy dived 28.9% to $6.88 after cutting its production guidance, citing issues at its Langer Heinrich mine in Namibia.
• Block Inc. closed 10.7% higher, tracking gains in the stock’s US-listed shares after a bullish analyst note from Piper Sandler following the fintech’s quarterly results last week.
• Oil prices fell in the previous session as more fiscal stimulus measures from top importer China underwhelmed, while a hurricane in the Gulf of Mexico appeared to have a limited impact on U.S. production.
• The Dow has closed up by 0.69%, the S&P 500 closed up by 0.10%, and the NASDAQ ended higher by 0.09%.
• Hang Seng is down by 1.45%, and FTSE 100 is up by 0.65%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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 Enva Australia Pty Ltd (AFSL 424494). The information contained in this website 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, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com