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ASX Market Update 2024-05-09

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SP/ASX 200 fell -1.1% (-83.4 pts) after a 5-day winning streak, closed at 7722 points, crossed below MA50 (7725 pts).

Among the 150 largest-cap stocks, 42 (28%) closed higher. 37% of all ASX stocks ended higher.

In terms of sectors, 1 sector closed up, 10 sectors closed down, 1 sector remained unchanged, ranging from -2.2% to +2.4%. 7 sectors outperformed the market. The market was down -1%; Utilities was up +2.4%, the best performer, reflecting a more risk-averse market; Consumer Cyclical was down -2.2%, the worst performer.

● AUB GROUP (AUB) largely rose +3.6% (+$1.07), closed at $30.94, rose 5 days in a row, the best % gain in more than 3 months, also a 40-day high. The largest increase in volume.
360miq.com/stockinfo?code=AUB.AX

● MERIDIAN ENERGY (MEZ) jumped +5.4% (+$0.29), closed at $5.65, the best % gain in more than 1 month, also a 40-day high, crossed above MA20 and MA50 ($5.39, $5.4). The best performer with a huge increase in volume.
360miq.com/stockinfo?code=MEZ.AX

● LIONTOWN RESOURCES (LTR) spiked +5.3% (+$0.07), closed at $1.4, rose 4 days in a row, a 37-day high.
360miq.com/stockinfo?code=LTR.AX

● CONTACT ENERGY (CEN) soared +4.3% (+$0.33), closed at $7.98, hit a YTD high, crossed above MA20 and MA50 ($7.78, $7.68).
360miq.com/stockinfo?code=CEN.AX

● NEXGEN ENERGY (CANADA) (NXG) plunged -9.8% (-$1.3), closed at $11.9, the worst % loss in 8 months, crossed below MA20 and MA50 ($12.38, $12.02). The worst performer with a huge increase in volume.
360miq.com/stockinfo?code=NXG.AX

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

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