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ASX Market Update 2024-06-04

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SP/ASX 200 slightly fell -0.3% (-23.9 pts), closed at 7737 points, crossed below MA50 (7742 pts).

Among the 150 largest-cap stocks, 45 (30%) closed higher. 35% of all ASX stocks ended higher.

In terms of sectors, 2 sectors closed up, 10 sectors closed down, ranging from -2.4% to +0.1%. 6 sectors outperformed the market. The market was down -0.4%; Consumer Defensive, Financial were up +0.1%, but already the best performers, reflecting a more risk-averse market; Utilities was down -2.4%, the worst performer.

● STANMORE RESOURCES (SMR) largely rose +3.9% (+$0.13), closed at $3.46, rose 3 days in a row, a 58-day high, crossed above MA200 ($3.4). The best performer with a significant increase in volume.
360miq.com/stockinfo?code=SMR.AX

● MERIDIAN ENERGY (MEZ) sank -7.6% (-$0.47), closed at $5.75, the worst % loss in nearly 3 months. The worst performer with a slight increase in volume.
360miq.com/stockinfo?code=MEZ.AX

360miq.com/market?data=ASX#tab-3

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