Market Report September 24: ASX makes small decline at materials rallies [Video]

Proactive’s Tylah Tully gives a market wrap for the 24th of September.

The ASX closed relatively flat today, down 3.6 points to 8,149.3. Over the past five days, the index has been stable but remains 1.18% below its 52-week high.

The top-performing stocks included Boss Energy, which surged 10% to close at A$3.19 per share, and Paladin Energy, up 10.14%, trading at A$10.86. Both companies benefitted from increased interest in uranium stocks following significant industry news. Microsoft announced a deal with Constellation Energy to power its AI operations with nuclear energy, aiming to revive the Three Mile Island nuclear plant in Pennsylvania.

On the downside, Light & Wonder dropped 18.42%, falling over A$30 to close at A$134.53 per share. This decline followed a US court ruling in Nevada granting Aristocrat a preliminary injunction over Light & Wonder’s Dragon Train game. Light and Wonder plans to appeal the decision.

In sector performance, six out of eleven sectors closed higher. The materials sector led with a 2.65% increase, followed by energy up 1.85%. In contrast, financials and health care were down 1.8% and 1.7%, respectively.

That’s all for today. Stay tuned for more market updates tomorrow.

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