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ASX Market Wrap: Thursday, 24th July 2025
The S&P/ASX 200 index concluded the trading day down by 27.8 points, resulting in a 0.32% decrease, closing at 8,703 points. The market initially witnessed gains of 0.26% but subsequently turned negative, mainly driven by declines in ten out of eleven sectors, with the Industrials sector experiencing the most significant drop.
Key Highlights:
- Negative Market Sentiment: Despite remaining close to historical highs, 135 of the 200 constituent stocks finished either down or flat.
- Healthcare Sector Shines: The Healthcare sector stood out, gaining 1.2% on the day and 8.5% for the month, returning the index to levels last observed in February.
Market Overview
| Major Indices Performance: | Index | Value | Change |
|---|---|---|---|
| ASX 200 | 8,709.4 | -0.32% | |
| All Ords | 8,979.4 | -0.24% | |
| Small Ords | 3,378.6 | -0.08% | |
| All Tech | 4,187.5 | -0.80% | |
| Emerging Companies | 2,444.0 | +0.28% |
Currency:
- AUD/USD: 0.6624 (+0.33%)
US Futures:
- S&P 500: 6,400.5 (+0.07%)
- Dow Jones: 45,092.0 (-0.27%)
- Nasdaq: 23,385.5 (+0.32%)
Sector Performance
| Sector | Value | Change |
|---|---|---|
| Health Care | 45,090.5 | +1.04% |
| Utilities | 9,765.0 | -0.01% |
| Materials | 17,440.2 | -0.12% |
| Financials | 9,238.4 | -0.32% |
| Communication Services | 1,858.5 | -0.53% |
| Information Technology | 2,985.1 | -0.54% |
| Consumer Staples | 11,996.1 | -0.59% |
| Energy | 9,132.8 | -0.70% |
| Consumer Discretionary | 4,145.3 | -0.70% |
| Real Estate | 3,968.0 | -0.88% |
| Industrials | 8,329.8 | -1.17% |
Notable Market Movements
- Bapcor shares plummeted 28% to $3.65 following disappointing earnings and $50 million in write-downs, marking a return to pandemic lows.
- Fortescue experienced a 4.3% surge, reaching five-month highs after reporting robust quarterly results that exceeded expectations on iron ore shipments.
- The resignation of Macquarie’s CFO contributed to a 5% decline in their shares, amid ongoing challenges before the upcoming AGM.
Broader Economic Insights
- Australian Business Activity: Private sector activity surged to a 27-month high, with the Composite PMI rising to 53.6 in July, reflecting growth in both the services and manufacturing sectors.
- RBA’s Monetary Policy: Governor Michele Bullock reiterated a cautious approach to interest rate reductions, indicating inflation may persist longer than anticipated.
- Trade Optimism: Speculation about an approaching trade deal between the US and EU has increased optimism in the market, potentially alleviating trade tensions.
Top Movers
Gainers:
- Bougainville Copper (BOC): +19.38%
- Pexa Group (PXA): +16.22%
- Iperionx (IPX): +13.98%
Losers:
- Bapcor (BAP): -28.18%
- Boss Energy (BOE): -6.70%
- Macquarie Group (MQG): -4.80%
Broker Recommendations
Analysts have maintained positive ratings for several stocks:
- AIC Mines (A1M): Buy; Price Target: $0.60
- Fortescue (FMG): Neutral; Price Target: $16.00
- Bapcor (BAP): Neutral; Price Target: $5.43
Conclusion
Despite a close to record levels, the market saw widespread declines today, particularly in the industrial sector. Meanwhile, the healthcare sector exhibited notable resilience, reflecting a possible opportunity for investors. As economic conditions evolve, market sentiment remains cautious, yet optimistic signs of business growth and potential trade advancements provide a silver lining.
