Australia Market extends losses to 2nd day

The Australian share market finished lower for second straight session on Thursday, 24 June 2021, as risk sentiments subdued on following mixed lead from Wall Street overnight and on caution before upcoming remarks from U.S. Federal Reserve officials to get clues about when an initial interest rate hike and stimulus tapering would take place.

At closing bell, the benchmark S&P/ASX200 declined 23.15 points, or 0.32%, to 7,275.30. The broader All Ordinaries decreased 13.03 points, or 0.17%, to 7,539.10.

Total 8 of 11 sectors ended lower along with the S&P/ASX 200 Index. healthcare was the worst performing sector, falling 1.8%, followed by energy (down 1.23%) financial (down 0.7%), telecommunication services (down 0.67%), industrials (down 0.68%), and utilities (down 0.65%) sectors, while information technology was the best performing sector (up 2.07%), consumer staples (up 1.91%), and materials (up 0.3%) sectors.

The best performing stocks in the S&P/ASX200 were Redbubble (up 7.1%), Pro Medicus (up 6.9%), Afterpay (up 6.18%), Kogan.com (up 5.9%), and Pilbara Minerals (up 3.7%), while the worst performing stocks were Woolworths Group (down 11.2%), Northern Star Resources (down 3.7%), Boral (down 3.6%), Charter Hall Group (down 3.1%), and CSL (down 2.6%).

Shares of travel and tourism stocks were mostly negative as the Sydney cluster grew by another 11 with the five new cases in the last 24 hours, with Flight Centre (FLT) down 0.1%, Webjet (WEB) flat, Sydney Airport (SYD) down 0.2%, while Qantas (QAN) dropped 1.9%.

Mining stocks were lower, with sector heavyweight BHP Group and top gold producer Newcrest Mining losing 2.5% and 2.9%, respectively.

Energy stocks dropped as oil prices weakened. Woolworths Group fell 2% after the industrial relations watchdog said it was suing the country's largest supermarket chain for underpaying staff.

Healthcare stocks gained. Drugmaker CSL was up 1.1%, while medical device maker Resmed Inc advanced 2.7%.

CURRENCY NEWS: The Australian dollar changed hands at $0.7578, above levels below $0.752 seen earlier in the week.

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