S&P/ASX 200 Closed Marginally Higher; Due To Material Sector Decline

By the end of the trading session on 06 January 2025, the benchmark index S&P/ASX 200 ended higher by 0.08% and settled at AU$8,257.40. Out of 11, 7 sectors closed higher along with the ASX 200.

The A-REIT and Information Technology sectors were the top 2 gaining sectors, gained 0.81% and 0.80% in their index values. On the other hand, the Materials and Consumer Staples sectors were the top 2 declining sectors, declined by 1.36% and 0.49% in their index values.

Insignia Financial Limited (ASX: IFL) and Deep Yellow Limited (ASX: DYL) were the top gainers, with 14.689% and 5.882% growth in share prices, respectively. On the other hand, Bellevue Gold Limited (ASX: BGL) and Alcoa Corporation (ASX: AAI) were the top losers, with a 5.255% and 5.002% drop in share prices, respectively.

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Top Performers for the day:

• A-REIT (Up 0.81%)
• Information Technology (Up 0.80%)

Top Loser for the day:                                    

• Materials (Down 1.36%)
• Consumer Staples (Down 0.49%)

Other Factors influencing the market:

• Australian shares closed marginally higher today after losses from the mining giants undermined an early rally in technology stocks.
• Material sector closed in red as traders intensified a sell-off in mining companies throughout the day as iron ore prices fell for the second consecutive session. Iron ore futures contracts in Singapore continued a two-day losing streak on Monday, falling 1.2% to US$97.05 a tonne after a 2.7% fall on Friday.
• Insignia Financial was the top performer of the day after it announced a $4.30 per share cash takeover bid from private equity firm CC Capital Partners.
• The Australian dollar fell further to trade at about US62¢ after the Chinese yuan dropped sharply against the greenback earlier last week. The Australian currency is regarded as a proxy for China’s growth and tends to fluctuate with the country’s fortunes.
• The Dow has closed up by 0.80%, the S&P 500 closed up by 1.26%, and the NASDAQ ended higher by 1.77%.
• Hang Seng is up by 0.70%, and FTSE 100 is down by 0.44%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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