Market Close Commentary; 30 April 2020

May 01, 2020 05:31 PM AEST | By Team Kalkine Media

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The Benchmark index on ASX sank 5.01% by the market closure on Friday 1 May 2020 and settled at 5,245.9. The sector was impacted by the decline in S&P 500 index by 0.92%, NYSE Composite Index New by 2.12% and Dow Jones by 1.17% by the market close on Thursday 30 April 2020.

Most sectors on ASX ended up in the red zone by the market closure and dropped by more than 5%.

Energy sector which was the best performing sector on 30 April 2020 was amongst the worst performing sector on 1 May 2020. The sector dropped by 6.2% and settled at 6,883. Other sectors which reported a downfall of more than 6% were Materials, Metals and Mining, Resources and Banks.

From the metal and mining sector, the shares of BHP Group Limited (ASX:BHP) dropped by ~7.76%. The shares of other players from the same sector such as Fortescue Metals Group Ltd (ASX:FMG) tumbled by 8.194% and Rio Tinto Limited (ASX:RIO) by 5.62%.

Let us look at the best and worst performing stocks for the day.

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