Market Update:S&P/ASX200 Witnessed a Marginal Fall; Pulled Down by Telecommunications Services Sector

On 15th September 2020, equity market of Australia settled in red as benchmark index S&P/ASX200 witnessed a fall of 4.7 points. At the close of same session, All Ordinaries moved up by 0.01% to 6079.3. The healthcare sector and industrials sector went up by 1.05% and 0.43%, respectively. However, the telecommunications services sector plunged by 1.73%.

Sector Summary (Source: Refinitiv (Thomson Reuters))

On March 31, 2020, ASX introduced temporary emergency measures for capital raising. This was done in order to help listed entities impacted by the pandemic to garner capital. Notably, the measures also included protections for the retail investors. ASX has even extended temporary emergency capital raising measures till November 30, 2020. There are expectations that since there has been some sort of stabilisation in the market, there could be some revision.

Gainers and Losers: Silver Lake Resources Limited (ASX: SLR) (up 8.23%), Northern Star Resources Ltd (ASX: NST) (up 7.42%) and Perseus Mining Limited (ASX: PRU) (up 6.19%). On the flip side, SkyCity Entertainment Group Limited (ASX: SKC) and Cleanaway Waste Management Limited (ASX: CWY) moved down by 5.02% and 4.27%, respectively.

Top Movers (Source: Refinitiv (Thomson Reuters)

Movement in the US Markets:

On September 14, 2020, Dow Jones Industrial Average increased 1.18% to 27,993.33. On the same day, NASDAQ Composite rose by 1.87% to 11,056.65.





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