Key Points
- The S&P/ASX 200 fell by 0.61%. Losses in the Metals & mining and consumer Discretionary sectors led to the decline.
- Regis Resources Ltd. (ASX:RRL), Megaport Ltd. (ASX:MP1), and Zip Co. Ltd. (ASX:ZIP) were among the top performers.
- Iluka Resources Ltd. (ASX:ILU), Pilbara Minerals Ltd. (ASX:PLS), and Evolution Mining Ltd. (ASX:EVN) were among the worst performers.
- Declining stocks outnumbered advancing ones, with 623 falling, 406 advancing, and 394 remaining unchanged. The S&P/ASX 200 VIX increased 2.85%.
Australia’s stock market closed lower on Thursday, with declines in the Metals & Mining, Consumer Discretionary, and Materials sectors leading the downturn. The S&P/ASX 200 index fell 0.61% or 51.10 to 8,378.70, reflecting a broad weakness across key sectors.
Despite the overall market decline, several stocks managed to post gains. Regis Resources Ltd. (ASX:RRL) led the pack, rising 3.88%, or 0.12 AUD, to close at 3.21, marking a three-year high. Meanwhile, Megaport Ltd. (ASX:MP1) added 3.42% or 0.28 AUD, closing at 8.47, and Zip Co. Ltd. (ASX:ZIP) gained 3.17% or 0.10 AUD, ending the session at 3.25.
On the downside, Iluka Resources Ltd. (ASX:ILU) was the session’s biggest laggard, plummeting 6.46%, or 0.32 AUD, to 4.63, a three-year low. Pilbara Minerals Ltd. (ASX:PLS) declined 3.73% or 0.09 AUD, finishing at 2.32, while Evolution Mining Ltd. (ASX:EVN) dropped 3.90% or 0.23 AUD, settling at 5.66.
Overall, declining stocks outnumbered advancing ones on the Sydney Stock Exchange, with 623 stocks falling, 406 advancing, and 394 remaining unchanged. The S&P/ASX 200 VIX, a measure of market volatility, increased 2.85% or 0.29, reaching 10.40, indicating heightened uncertainty in the market.
In commodities trading, gold futures for February delivery slipped 0.37%, or $10.24, to $2,760.66 per troy ounce. Crude oil for March delivery edged down 0.34%, closing at $75.18 per barrel, while Brent oil for March delivery declined 0.35%, settling at $78.72 per barrel.
The Australian dollar remained relatively stable in the forex market, with AUD/USD unchanged at 0.63, while AUD/JPY rose 0.07% to 98.28. Meanwhile, the US Dollar Index Futures climbed 0.14% to 108.11, indicating strength in the greenback.