- Home
- About us
- Products & Services
-
Wellworth Insurance
- Back Office
- Market Analysis
- Invest Options
- Corp Info
- Reports
Australia stock market finished session in negative territory on Tuesday, 14 May 2024, amid caution ahead of the release of the federal budget and the U.S. inflation data due out later in the week.
Investors risk sentiments weighed down on persistent speculation that U.S. interest rates will remain elevated for longer after the New York Federal Reserve said Monday that consumer inflation expectations for the year ahead rose in April from a month earlier.
ASX sectoral indices were mostly lower, with shares in industrial, real estate, information technology, and energy issues saw the biggest declines.
At closing bell, the benchmark S&P/ASX200 index declined 23.26 points, or 0.3%, to 7,726.76. The broader All Ordinaries index was down 23.67 points, or 0.3%, to 7,995.71.
Total 9 of 11 sectors were lower along with the S&P/ASX 200 Index. Consumer Discretionary was the best performing sector, gaining +0.73%, while industrial and A-REIT sectors were bottom performers, both down 0.88%.
The best-performing stocks in S&P/ASX200 index were G.U.D. HOLDINGS and ALUMINA, up 12.18% and 6.87% respectively. The bottom performing stocks in S&P/ASX200 index were FLETCHER BUILDING LIMITED and HOMECO DAILY NEEDS REIT, down 4.18% and 3.52% respectively.
Real estate investment trusts were among the worst performers as Westfield shopping centre Scentre Group and developer Mirvac both dropped about 1%.
Industrial stocks also declined, led lower by Seven Group Holdings (down 3.1%), Transurban (down 1.8%) and Brambles (down 1.5%).
Consumer discretionary stocks performed strongly due to an expectation of budget support for household spending, which could boost consumption. Premier Investments, which owns brands such as Peter Alexander and Smiggle, rose 1.5%, Harvey Norman added 0.7% and electronics retailer JB Hi-Fi rose 0.8%.
Among individual stocks, GUD Holdings jumped 12.2% after the car parts seller on Monday issued a bullish trading update, saying its automotive business ?continues to trade well?.
Powered by Capital Market - Live News