Market Alert : Crude Oil Prices Decline on Easing Geopolitical Risk and Emerging Supply Expectations

ASX 200 Ended Lower By 1.23%; Amid Heavy Sell-Off

By the end of the trading session on 30 September 2022, the benchmark index S&P/ASX 200 ended lower by 1.23% and settled at 6,474.20. Out of 11 sectors, 9 sectors closed lower along with the ASX 200.



The Materials and Energy sectors were the top 2 gaining sectors, gained 0.67% and 0.06% in their index values. On the other hand, the Industrials and Consumer Discretionary sectors were the top 2 declining sectors, declined by 3.04% and 2.72% in their index values.



Capricorn Metals Ltd (ASX: CMM) and Silver Lake Resources Limited (ASX: SLR) were the top gainers, with 8.695% and 7.272% growth in share prices, respectively. On the other hand, Carsales.com Limited (ASX: CAR) and Cochlear Limited (ASX: COH) were the top losers, with a 7.795% and 6.633% drop in share prices, respectively.





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Top Performers for the day:




  • Materials (Up 0.67%)

  • Energy (Up 0.06%)



Top Loser for the day:                                    




  • Industrials (Down 3.04%)

  • Consumer Discretionary (Down 2.72%)





Other Factors influencing the market:




  • S&P/ASX 200 closed lower on the last day of the month and quarter as recession fears roil global markets and wipe out the optimism from the previous day's rally.

  • Iron ore futures in Singapore for delivery in October climbed 1.2% to $US96.65, which helped the Materials sector to close higher.

  • Carsales.com Limited was the top loser of the day, declined 7.7% after the US auto retailer warned inflation is reducing demand for used cars.

  • Oil prices were slightly higher but were set for a fourth straight month of losses amid growing concerns over weakening demand, with the focus now turning to a potential supply cut by OPEC next week.

  • Dow has closed down 1.5%, S&P 500 down by 2.1%, and NASDAQ closed lower by 2.8%.

  • Hang Seng is up by 0.21%, and FTSE 100 is down by 1.77%.



Top 5 Gainers and Losers Scoreboard:





90-Day Average Volume Outlier:





 



 



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