The materials and energy sectors were among the few sectors that gained ground today (27 March), going against the pull of the broader market.
The S&P/ASX200 fell 30 points, or 0.38%, at 7,969 points by the closing bell. The index is up 0.63% over the past five days but is 2.33% lower in the last year to date.
Seven of the 11 sectors ended the day in the red, including industrials with a 0.59% loss.
Energy, however, was the best performing sector, climbing 1.01% on Thursday and 0.94% over the past five days. This followed a rise in crude oil prices on falling inventories, now at the lowest level in a month, and signs of strong demand. Materials shifted up 0.37%.
Investor sentiment declined following US President Donald Trump announcing a 25% tariff on US auto imports and ahead of the roll-out of his planned tariffs next week.
The S&P/ASX 200 Volatility Index (A-VIX) rose 0.44 points, or 3.74%, to 12.11 points. The index has lost 8.92% over the past five days but gained 6.99% year to date.
The gold miners featured prominently among the top movers on Thursday. Gold Road Resources (ASX:GOR) finished up 3.9% at $2.93, Westgold Resources (ASX:WGX) climbed 2.14% to $2.87 and West African Resources (ASX:WAF) added 1.78% to close at $2.29.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market. The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation.
It is recognised as the institutional investable benchmark in the country.
Write to Angela East at Mining.com.au
Images: ASX
