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HomeLatestAustralia's S&P/ASX 200 Index Slides 1.34% as Key Sectors Face Losses

Australia’s S&P/ASX 200 Index Slides 1.34% as Key Sectors Face Losses

Australia’s stock market experienced a downturn on Wednesday, with losses in the IT, A-REITs, and Consumer Discretionary sectors driving shares lower.


At the close of trading in Sydney, the S&P/ASX 200 Index dropped by 1.34%.


Among the session’s top performers on the S&P/ASX 200 were Ramelius Resources Ltd (ASX:RMS), which saw a notable increase of 6.35% or 0.12 points, reaching 1.92 by the close. Clinuvel Pharmaceuticals Ltd (ASX:CUV) also recorded gains, rising by 2.69% or 0.42 points to end at 16.02, while Zip Co Ltd (ASX:ZIP) experienced a modest increase of 2.34% or 0.03 points, closing at 1.31.


Conversely, the session’s worst performers included Westgold Resources Ltd (ASX:WGX), which experienced a significant decline of 14.62% or 0.41 points, settling at 2.37. Mesoblast Ltd (ASX:MSB) also saw a notable decrease, falling by 6.32% or 0.06 points to reach 0.89, while Credit Corp Group Ltd (ASX:CCP) slipped by 5.78% or 1.09 points, ending at 17.77.

Overall, declining stocks outnumbered advancing ones on the Sydney Stock Exchange, with 775 stocks falling, 400 advancing, and 330 remaining unchanged.

Shares in Ramelius Resources Ltd (ASX:RMS) reached 52-week highs, marking a significant increase of 6.35% or 0.12 points to 1.92.

Meanwhile, the S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, rose by 12.79% to 11.25.

In commodities trading, Gold Futures for June delivery experienced a notable increase of 0.96% or 22.00, reaching $2,303.80 per troy ounce. Crude oil for delivery in May also saw a slight rise of 0.04% or 0.03, hitting $85.18 per barrel, while the June Brent oil contract increased by 0.12% or 0.11, trading at $89.03 per barrel.

Regarding currency markets, the AUD/USD pair remained unchanged at 0.65, while the AUD/JPY pair saw a slight increase of 0.05% to 98.83.

The US Dollar Index Futures experienced a modest decline of 0.09%, settling at 104.47.