S&P/ASX 200 Closed In Red Today; Dragged Down By Energy And A-REIT Sectors

By the end of the trading session on 22 July 2024, the benchmark index S&P/ASX 200 ended lower by 0.50% and settled at AU$7,931.50. Out of 11 sectors, 9 sectors closed lower along with the ASX 200.

The Consumer Staples and Consumer Discretionary sectors were the only gaining sectors, gained 0.65% and 0.54% in its index value. On the other hand, the Energy and A-REIT sectors were the top 2 declining sectors, declined by 1.62% and 0.91% in their index values.

Iress Limited (ASX: IRE) and Insignia Financial Group Ltd (ASX: IFL) were the top gainers, with 9.323% and 5.042% growth in share prices, respectively. On the other hand, South32 Limited (ASX: S32) and Liontown Resources Limited (ASX: LTR) were the top losers, with a 12.574% and 4.478% drop in share prices, respectively.

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Top Performers for the day:

• Consumer Staples (Up 0.65%)
• Consumer Discretionary (Up 0.54%)

Top Loser for the day:                                    

• Energy (Down 1.62%)
• A-REIT (Down 0.91%)

Other Factors influencing the market:

• Australian shares closed lower ahead of key earnings from the US tech giants this week and as investors are weighing the impact US President Joe Biden’s decision to end his reelection campaign may have on financial markets.
• South32 Limited’s shares slumped more than 10% after it lowered its production guidance for alumina, Sierra Gorda payable copper equivalent, Cannington payable zinc equivalent in FY25.
• Woodside Energy shares dropped after it agreed to buy Gulf Coast Driftwood LNG project near Lake Charles in Louisiana for US$900 million.
• Gold edged higher as markets weighed President Joe Biden’s decision to end his reelection bid, which sparked questions over whether the move will help or hinder Donald Trump’s chances of returning to the White House.
• The Dow has closed down by 0.93%, the S&P 500 closed down by 0.81%, and the NASDAQ ended lower by 0.71%.
• Hang Seng is up down 2.03%, and FTSE 100 is down by 0.60%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier: 

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