Australia Market ends 0.15% down

Australia stock market finished session finished session lower on Friday, 22 March 2024, dragged by energy, materials, and consumer goods stocks partially offset by gains in realty and pharma stocks.

At closing bell, the benchmark S&P/ASX200 index fell by 11.41 points, or 0.15%, to 7,770.55. The broader All Ordinaries index dropped 18.23 points, or 0.23%, to 8,026.33.

Total 6 of 11 sectors were lower along with the S&P/ASX 200 Index. Energy was the bottom performing sector, falling 1.3%. A-REIT was the best performing sector, gaining 1.48%.

The top performing stocks in S&P/ASX200 index were FISHER & PAYKEL and VIRGIN MONEY, up 7.7% and 4.05% respectively. The bottom performing stocks in S&P/ASX200 index were GENESIS MINERALS and BELLEVUE GOLD, down 6.25% and 5.28% respectively.

 

Shares of energy companies declined the most on following a decline in Brent Crude oil prices overnight. Sector heavyweight Woodside (down 1.8%) lost ground, along with coal miners Yancoal (down 2.1%) and Whitehaven (down 3%).

Shares of materials and resources were also a drag on the key index, with South32 declining 2.4%, iron ore heavyweight Fortescue losing 2.1% and gold miner Evolution sliding 2%.

Shares of healthcare companies advanced, with Fisher & Paykel leading gains, up 7.7%, after the company upgraded its revenue and profit guidance for the 2024 financial year. Laboratory testing company ALS was up 2%, Cleanaway Waste Management rose 1%, and packaging company Amcor added 1.4%.

Real estate investment trusts shares were stronger with Goodman Group up 3.4%, Scentre up 1.2% and Vicinity Centres up 1.5%.

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