Australian Stocks Close Down as S&P/ASX 200 Falls by 0.12%

2 min read | October 24, 2024 05:54 PM AEDT | By Team Kalkine Media

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Australian Stocks Close Down as S&P/ASX 200 Falls by 0.12% — Image source: Shutterstock

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Highlights

Australian stocks closed lower, with notable declines in the IT, Gold, and Metals & Mining sectors.

EML Payments Ltd emerged as a top performer, gaining nearly 10%, while Reece Ltd faced significant losses, dropping almost 8%.

Commodities such as gold and crude oil experienced upward movement during trading.

Description

Australian stocks concluded the trading session on Thursday with a slight decline, influenced primarily by losses in the Information Technology, Gold, and Metals & Mining sectors. The S&P/ASX 200 index closed down by 0.12%, reflecting a mixed performance among its constituents.

Leading the gains for the session was EML Payments Ltd, (ASX:EML) which saw a rise of 9.84%, finishing at 0.67. Other notable performers included Viva Energy Group Ltd, which increased by 2.66% to close at 2.70, and Beach Energy Ltd, which saw a rise of 1.95%, ending at 1.31. These stocks provided a counterbalance to the broader market trend.

In contrast, the worst performers included Reece Ltd, which experienced a significant decline of 7.94%, closing at 24.45. Wisetech Global Ltd followed closely with a drop of 6.32% to finish at 99.37, while Super Retail Group Ltd fell by 5.25%, ending at 15.87. The overall market sentiment was bearish, as declining stocks outnumbered those advancing by a ratio of 658 to 460, with 445 stocks remaining unchanged.

The S&P/ASX 200 VIX, which measures implied volatility in options, decreased by 2.21%, closing at 12.55, indicating a slight reduction in market uncertainty.

In commodities trading, gold futures for December delivery saw a modest increase of 0.43%, settling at $2,741.10 per troy ounce. Crude oil prices also rose, with December delivery contracts gaining 1.24% to reach $71.65 a barrel, while the December Brent oil contract increased by 1.11%, closing at $75.79 a barrel.

In currency markets, the AUD/USD remained relatively unchanged, while the AUD/JPY saw a minor decline. The US Dollar Index Futures also registered a slight decrease, closing at 104.18. This comprehensive overview highlights the current market dynamics and trends influencing the Australian stock exchange.

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