Australian Stock Market Declines as Energy and IT Sectors Weaken

April 03, 2025 05:37 PM AEDT | By Team Kalkine Media

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Australian Stock Market Declines as Energy and IT Sectors Weaken — Image source: shutterstock

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Highlights:

The S&P/ASX 200 closed lower, influenced by losses in IT, Energy, and Resources sectors.

Ramelius Resources Ltd led gains, while Ansell Ltd recorded the steepest decline.

Gold and crude oil prices decreased, with Brent crude falling below previous levels.

The Australian stock market closed lower, with the S&P/ASX 200 index experiencing a decline. Weak performance in the Information Technology, Energy, and Resources sectors contributed to the downturn. Broader market sentiment reflected a cautious approach as declining stocks outnumbered advancing ones.

Top Performers

Among the strongest performers, Ramelius Resources Ltd recorded an increase, reaching a higher closing price. Dyno Nobel Ltd also saw gains, advancing further despite recent declines. Westgold Resources Ltd rounded out the top performers with an increase by the end of the session.

Underperforming Stocks

Several stocks ended lower, with Ansell Ltd (ASX:ANN) experiencing the most significant decline, closing at a reduced price. Netwealth Group Ltd (ASX:NWL) also posted a decrease, continuing its downward movement. Mineral Resources Ltd (ASX:MIN) saw further declines, reaching its lowest level in multiple years.

Market Breadth and Volatility

A larger number of stocks closed in negative territory compared to those that advanced. Market volatility increased, with the S&P/ASX 200 VIX rising. The measure reflected heightened fluctuations in market activity.

Commodity Movements

Gold futures for upcoming delivery recorded a decrease, aligning with a broader pullback in commodities. Crude oil prices also declined, with the contract for upcoming delivery falling below prior levels. Brent crude followed a similar trend, retreating further by the close.

Broader Economic Factors

Currency movements showed minor fluctuations, with AUD/USD remaining relatively stable. Meanwhile, AUD/JPY recorded a decline, reflecting broader trends in global currency markets. External market conditions and sector-specific developments influenced overall market sentiment, shaping the session's outcome.

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