You are here: Home » News-CM » International » Market Report
Business Standard

Australia Market tumbles to two-months low

Capital Market 

The Australian share market declined to two months low on Wednesday, 01 December 2021, on renewed fears around the omicron Covid variant after Moderna's CEO raised worries over Covid-19 vaccines effectiveness against Omicron variant. However, market losses capped after data showed that the local economy performed better than expected in the September quarter.

At closing bell, the benchmark S&P/ASX200 declined 20.12 points, or 0.28%, to 7,235.85. The broader All Ordinaries index dropped 29.57 points, or 0.39%, to 7,557.84.

Total 8 of 11 sectors ended lower along with the S&P/ASX 200 Index, with consumer staple sector was worst performer, down 1.87%, followed by utilities (down 1.39%), real estate (down 1.1%), and consumer discretionary (down 1%), while materials was best performing sector, up 0.57%.

The top performing stocks in this index were SOUTH32 and WAYPOINT, up 4% and 3.1% respectively. The bottom performing stocks in this index were G. U.

D. HOLDINGS and PRO MEDICUS, down 10.39% and 7.39% respectively.

ECONOMIC NEWS: Australia GDP Limbs 3.9% On Year In Q3- Australia's gross domestic product expanded 3.9 percent on year in the third quarter of 2021, the Australian Bureau of Statistics said on Wednesday following the 9.6 percent jump in the previous three months. On a seasonally adjusted quarterly basis, GDP was down 1.9 percent after rising 0.7 percent in the three months prior. Capital expenditure was up 0.2 percent on quarter, slowing from 3.2 percent in Q2.

CURRENCY NEWS: The U. S. dollar index, which tracks the greenback against a basket of its peers, was at 95.895 after a recent drop from above 96.5. The Australian dollar was at $0.7151, above an earlier low of $0.7117.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, December 01 2021. 17:13 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU