Australian Stocks Close Lower as Consumer Sectors Face Losses; Gold Futures Rise

Australian Stocks Close Lower, Led by Declines in Consumer Sectors

Key Points:

  • Australian stocks closed lower, with losses in the Consumer Staples, Consumer Discretionary, and A-REITs sectors. The S&P/ASX 200 Index declined by 0.33%.
  • Regis Resources Ltd (ASX:RRL), IPH Ltd (ASX:IPH), and Netwealth Group Ltd (ASX:NWL) were among the top performers.
  • Star Entertainment Group Ltd (ASX:SGR), Domino’S Pizza Enterprises Ltd (ASX:DMP), and Appen Ltd (ASX:APX) were among the worst performers.
  • 600 stocks recorded gains, 578 stocks experienced losses, and 457 stocks remained unchanged. The S&P/ASX 200 VIX was down 0.89%.

Australian stocks ended the week downward as losses in the Consumer Staples, Consumer Discretionary, and A-REITs sectors led shares lower. At the close in Sydney, the S&P/ASX 200 lost 0.33%, reflecting the market’s subdued performance.

Among the top performers of the session on the S&P/ASX 200 were Regis Resources Ltd (ASX:RRL), which rose 6.76% or 0.14 points to trade at 2.21 at the close. IPH Ltd (ASX:IPH) added 5.25% or 0.31 points to end at 6.21, and Netwealth Group Ltd (ASX:NWL) was up 4.57% or 0.88 points to 20.14 in late trade.

On the other hand, the worst performers of the session included Star Entertainment Group Ltd (ASX:SGR), which fell 9.09% or 0.05 points to trade at 0.51 at the close. Furthermore, Domino’S Pizza Enterprises Ltd (ASX:DMP) declined 7.51% or 3.26 points to end at 40.17, and Appen Ltd (ASX:APX) was down 3.59% or 0.03 points to 0.81.

Rising stocks slightly outnumbered declining ones on the Sydney Stock Exchange, with 600 stocks recording gains, 578 stocks experiencing losses, and 457 stocks remaining unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 0.89% to 10.77, indicating a slightly calmer market sentiment.

In commodities trading, Gold Futures for June delivery rose by 1.51% to $2,408.45 a troy ounce, signaling investor interest in safe-haven assets amidst market uncertainty. Meanwhile, Crude oil for delivery in May rose by 0.99% to hit $85.86 a barrel, and the June Brent oil contract increased by 0.82% to trade at $90.48 a barrel.

AUD/USD remained relatively unchanged in currency markets, rising by 0.28% to 0.65, while AUD/JPY fell by 0.34% to 99.86. The US Dollar Index Futures gained by 0.25% to 105.33, reflecting strength in the US dollar against a basket of major currencies.

TechGolly editorial team led by Al Mahmud Al Mamun. He worked as an Editor-in-Chief at a world-leading professional research Magazine. Rasel Hossain and Enamul Kabir are supporting as Managing Editor. Our team is intercorporate with technologists, researchers, and technology writers. We have substantial knowledge and background in Information Technology (IT), Artificial Intelligence (AI), and Embedded Technology.

Read More

We are highly passionate and dedicated to delivering our readers the latest information and insights into technology innovation and trends. Our mission is to help understand industry professionals and enthusiasts about the complexities of technology and the latest advancements.

Follow Us

Advertise Here...

Build brand awareness across our network!