NAB, OFX, ORG, TLS: Four ASX-listed shares plunged despite rise in ASX 200 - Kalkine Media

November 14, 2023 06:19 PM AEDT | By Team Kalkine Media
Follow us on Google News:

Tuesday witnessed a surge in the S&P/ASX 200 Index, which demonstrated a strong rebound, climbing by 0.83% to close at 7,006.70 points, showcasing an impressive return to form.

However, amidst this market upturn, several ASX shares failed to mirror the overall positive trend and faced notable declines. Here are four ASX-listed companies experiencing a downturn:

National Australia Bank Ltd (ASX: NAB)

The NAB share price experienced a 0.32% decline, resting at AU$27.97 apiece. This plunge was driven by the banking giant's shares trading ex-dividend this morning in anticipation of its fully franked final dividend of 84 cents per share. Eligible shareholders can anticipate receiving this payout on 15 December, 2023.

OFX Group Ltd (ASX: OFX)

Shares of OFX took a significant hit, plummeting by 10.46% to AU$1.37. Investors opted to sell off holdings in this foreign exchange and international payments company following the release of its half-year results, which reported a slight decline in underlying EBITDA for the period.

Origin Energy Ltd (ASX: ORG)

Origin Energy faced a 3.19% drop in its share price, closing at AU$8.50 apiece. Investor skepticism regarding the completion of the energy giant's takeover seems to have prompted profit-taking today. AustralianSuper's recent disclosure of rejecting an unsolicited letter from the Brookfield and EIG consortium, coupled with their vote against the takeover, has led the super fund to express its belief that the offer substantially undervalues Origin's long-term worth.

Telstra Group Ltd (ASX: TLS)

Telstra's share price witnessed a 2.03% decline, reaching AU$3.87. The market response was less than favorable following a significant announcement made by the telecommunications giant earlier today. Telstra unveiled plans to construct five new "major routes" as part of its Intercity Fibre project. CEO Vicki Brady highlighted the pivotal role of connectivity in driving the economy, emphasizing the potential for digital technologies to redefine Australia's growth trajectory.

Despite the broader market's positive trajectory, these four ASX-listed companies grappled with significant downward movements, facing challenges that resulted in notable declines in their respective share prices.


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.

Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK