ASX Ends 2024 on a Mixed Note as Energy and Healthcare Sectors Shine

December 30, 2024 06:10 PM AEDT | By Team Kalkine Media

Google News:

ASX Ends 2024 on a Mixed Note as Energy and Healthcare Sectors Shine — Image source: Shutterstock

Recent News

Happy Father's Day - Training Sons to become responsible fathers

Wood Panel Wall USA Introduces Acoustic Slat Panels to Enhance Sound Q...

World Digital Introduces Innovative E‑Commerce Strategies Amid Global...

Alex Miller Keeps Classic Country Flame Burning With Alan Jackson Song...

Highlights

ASX closes slightly down as markets experience slow trading and profit-taking.

Energy and Healthcare emerge as top-performing sectors.

Real Estate leads sectoral declines with significant losses.

The Australian Securities Exchange (ASX) closed slightly lower on the penultimate trading day of 2024, reflecting a subdued session marked by slow trading and profit-taking. The benchmark index declined by 0.04%, shedding three points to end at 8,221. As the year draws to a close, the market remained largely in red, with only two sectors—Energy and Healthcare—showing resilience.

The Energy sector led gains, closing 1.12% higher, supported by an uptick in crude oil prices. Notable performers in this sector included Boss Energy (ASX:BOE) and Karoon Energy (ASX:KAR), which gained 0.84% and 3.8%, respectively. Additionally, Bowen Coking Coal (ASX:BCB) saw a remarkable 29% increase, showcasing strong momentum within the coal segment.

Healthcare followed closely, with a modest gain of 0.09%, driven by a stellar performance from Proteomics International (ASX:PIQ), which soared 22.3%. This significant rise added optimism to an otherwise tepid trading session.

On the flip side, Real Estate emerged as the weakest sector, falling 1.79%. Companies such as Goodman Group (ASX:GMG), GPT Group (ASX:GPT), and Dexus (ASX:DXS) faced notable declines, with losses of 1.4%, 3.89%, and 3.7%, respectively. The sector’s underperformance weighed heavily on the broader market.

Financials also ended in the red, declining 0.51%, impacted by slight dips in the big four banks. Utilities were down 0.42%, with APA Group (ASX:APA) and Origin Energy (ASX:ORG) contributing to the sector’s drop. Consumer Discretionary saw a minor decline of 0.36%, extending losses amid subdued post-Christmas trading activity.

Gold-focused Maximus Resources (ASX:MXR) was among the session’s top gainers, surging 31.3% after Astral Resources (ASX:AAR) announced a seven-cent-a-share takeover offer. However, Astral saw its stock fall by 6.7% following the announcement.

The toll road operator Transurban (ASX:TCL) also faced headwinds, slipping 1.9% after trading ex-dividend.

As 2024 winds down, the ASX prepares for an early close on New Year’s Eve, with mixed performances across sectors highlighting the complexities of the market. The strong showing by Energy and Healthcare offered a silver lining to an otherwise subdued trading day.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.