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ASX Market Update 2024-12-16

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SP/ASX 200 fell -0.6% (-46.5 pts), closed at 8250 points, fell 5 days in a row, a 21-day low, crossed below MA50 (8297 pts).

Among the 150 largest-cap stocks, 44 (29%) closed higher. Only 30% of all ASX stocks ended higher, the least in more than 3 months.

In terms of sectors, 3 sectors closed up, 9 sectors closed down, ranging from -2.4% to +1.3%. 6 sectors outperformed the market. The market was down -0.7%; Utilities was up +1.3%, the best performer, reflecting a more conservative market sentiment; Basic Materials was down -2.4%, the worst performer.

● CONTACT ENERGY (CEN) largely rebounded +9.8% (+$0.74), closed at $8.29, the best % gain in more than 2 months, crossed above MA20, MA50 and MA200 ($7.94, $7.82, $7.71). The best performer with a significant decrease in volume.
360miq.com/stockinfo?code=CEN.AX

● HMC CAPITAL (HMC) tanked -13.7% (-$1.54), closed at $9.73, the worst % loss in more than 56 months, also a 44-day low, crossed below MA50 ($11.1). The worst performer with a huge increase in volume.
360miq.com/stockinfo?code=HMC.AX

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

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