Australia Market ends down

The Australian share market finished session lower on Wednesday, 15 September 2021, as 8 of 11 sectors were lower along with the S&P/ASX 200 Index, with losses in energy, utilities, and materials stocks overshadowed gains in healthcare, realty, and technology stocks.

At closing bell, the benchmark S&P/ASX200 declined 20.27 points, or 0.27%, to 7,417.03. The broader All Ordinaries fell 17.05 points, or 0.22%, to 7,723.21.

The bottom performing stocks in this index were AGL ENERGY and WORLEY, down 7.4% and 4.3% respectively. The top performing stocks in this index were PILBARA MINERALS and ELDERS, up 8.4% and 4.7% respectively.

Shares of materials declined as commodity prices dipped across the board. Mining heavyweights Rio Tinto and BHP fell 1.9% and 3.5%, respectively.

 

Shares of Lithium miners advanced with Pilbara Minerals jumping 8.4% on strong demand for its Spodumene concentrate (feedstock material used in lithium for EV batteries) via a digital auction on the Battery Material Exchange. Orocobre was 2.3% higher.

The healthcare sector rose the most among ASX sectoral peers, with CSL lifted 1%, meanwhile Cochlear and ResMed advanced 2% and 1.7% each.

CURRENCY NEWS: The Australian dollar changed hands at 73.23 US cents, still struggling to recover after last week's decline from above $0.74, following a speech by RBA governor Phillip Lowe, where he re-iterated the RBA stance that interest rates would remain at historical lows of 0.1% until 2024.

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