ASX/200 Closed Higher By 0.26%; Lifted by Information Technology

By the end of the trading session on 08 November 2023, the benchmark index S&P/ASX 200 ended higher by 0.26% and settled at 6,995.40. Out of 11 sectors, 9 sectors closed higher along with the ASX 200.

Information Technology and A-REIT sectors were the top-declining sectors, gaining 1.86% and 1.19% respectively in their index values. Materials sector was the top-gaining sectors, gaining 1.06% respectively in their index values.

James Hardie Industries PLC (ASX: JHX) and Sayona Mining Limited (ASX: SYA) were the top gainers, with 13.756% and 8.750% growth in share prices, respectively. South32 Limited (ASX: S32) and Capricorn Metals Limited (ASX: CMM) were the top losers, with 4.308% and 4.133% drop in share prices, respectively.

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Top gainer for the day:

• Information Technology (Up 1.86%)
• A-REIT (Up 1.19%)

Top loser for the day:

• Materials (Down 1.06%)
• Energy (Down 0.15%)

Other Factors influencing the market:

• Magellan Financial Group's shares saw a modest increase of 0.6% to $6.98 following its annual general meeting, during which shareholders expressed their discontent by delivering a strong rebuke to the remuneration report.
• James Hardie witnessed a substantial surge of 13.8% to $46.97, driven by positive quarterly results. Notably, the company successfully implemented a 15% price increase on building materials sold in Australia.
• Key Australian banks showed positive movements, with Commonwealth Bank rising by 0.7% to $100.69, Westpac adding 1.5% to reach $21.65, National Australia Bank increasing by 0.5% to $29.17, and ANZ gaining 0.4% to reach $25.56.
• Oil prices experienced a decline to a three-month low, influenced by a forecasted reduction in US gasoline consumption, signaling concerns about weakening demand in the energy sector.
• In the US, the stock market indices exhibited mixed performances with the Dow closing up by 0.17%, the S&P 500 ending the day with a 0.28% gain, and the NASDAQ leading the way with a substantial increase of 0.90%.
• On the international front, the Hang Seng index in Hong Kong declined by -0.17%, while the FTSE 100 in the United Kingdom also faced a minor setback, ending the day down by -0.10%.

 Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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