Australia Market falls 0.96%

Australia stock market finished session lower on Monday, 05 February 2024, amid profit taking across the board, with shares in materials, energy, and consumer-related goods companies leading losses

At closing bell, the benchmark S&P/ASX200 index declined 73.55 points, or 0.96%, to 7,625.85. The broader All Ordinaries index dropped 76.21 points, or 0.96%, to 7,855.36.

Total 10 of 11 sectors were lower along with the S&P/ASX 200 Index. Material was the worst performing sector, falling 2.66%, followed by utilities (down 1.46%), energy (down 1.11%), and consumer staples (down 0.97%) issues. Health Care was the best performing sector, gaining 0.13%.

The top performing stocks in S&P/ASX200 index were PJOHNS LYNG GROUP and PRO MEDICUS, up 5.47% and 3.65% respectively. The bottom performing stocks in S&P/ASX200 index were SILVER LAKE RESOURCES and LIONTOWN RESOURCES, down 11.46% and 8.21% respectively.

 

Shares of mining giants dragged the local market down, with BHP shares 2.4% lower, Rio Tinto down 2.2% and Fortescue Metals shedding 2.8%.

Shares of banks and financials closed mixed. Commonwealth Bank slid 0.3% and ANZ finished 0.2% lower, while Westpac and NAB gained 0.5% and 0.3% respectively.

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