Market Alert : Rate Fears Tighten — Tech Crumbles, Commodities Slide, ASX Feels the Heat

ASX/200 Closed Lower by 0.33%, Dragged down by Consumer Staples

By the end of the trading session on 12 April 2024, the benchmark index S&P/ASX 200 ended lower by 0.33% and settled at 7,788.10. Out of 11 sectors, 08 closed lower along with the ASX 200.

Utilities and Information Technology sectors were the top-gaining sectors, gaining 1.15% and 0.42% respectively in their index values. On the other hand, Consumer Staples and A-REIT sectors were the top-losing sectors, losing 0.82% and 0.71% respectively in their index values.

Regis Resources Limited (ASX: RRL) and Red 5 Limited (ASX: RED) were the top gainers, with 6.763% and 6.172% growth in share prices, respectively. On the other hand, Domino’s Pizza Limited (ASX: DMP) and The Star Entertainment Limited (ASX: SGR) were the top losers, with 7.507% and 7.340% drop in share prices, respectively.

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Top gainer for the day:

  • Utilities (Up 1.15%)
  • Information Technology (Up 0.42%)

Top loser for the day:

  • Consumer Staples (Down 0.82%)
  • A-REIT (Down 0.71%)

Other Factors influencing the market:

  • Domino’s, a pizza franchise, experienced a 7.5% decrease in its stock price to $40.17 following a strategy update aimed at revitalizing its struggling overseas operations.

  • The Star Entertainment Group, a casino operator, faced challenges as its stock dropped by 7.3% to 50.5¢ due to significant declines in revenue from gaming rooms nationwide.
  • Cettire, an online fashion retailer, saw a decline of 6.9% in its stock value to $3.12 despite reporting strong preliminary sales figures in the third quarter, failing to attract investors.
  • The price of gold reached a new high amid tensions between Israel and Iran, prompting concerns of a potential strike by Iran or its allies, while traders analyzed the latest economic data from the United States.
  • In the stock market, the Dow closed with a decrease of 0.26%, the S&P 500 ended with a 0.74% increase, and the NASDAQ saw a rise of 1.68%.
  • The Hang Seng index experienced a decline of -2.09%, while the FTSE 100 index dropped by -0.47% during the trading day.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

 

 

 

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