Market report: ASX declines 0.61% as consumer discretionary and materials weigh [Video]

Proactive’s Tylah Tully gives a market wrap for January 23.

The ASX closed 0.61% lower at 8,378.7 points on Thursday, January 23. Over the last five days, the index gained 0.62% and remains 1.59% below its 52-week high.

Top-performing stocks included Neuren Pharmaceuticals, up 3.85% to $14.55, and Regis Resources, up 3.88% to $3.21.

Liontown Resources saw the largest decline, falling 6.38% to $0.66.

Sector-wise, most were lower, with Consumer Discretionary down 1.6%, Materials down 1.53% and Consumer Staples down 1.26%. Utilities rose 0.43%, while Information Technology was up 0.3%.

NRMA advised Australians to refuel before a predicted rise in fuel prices ahead of the Australia Day weekend.

Peter Dutton discussed climate policies, warning of trade and job risks if Australia exited the Paris Agreement, while confirming the Coalition would not adopt a 2035 emissions-reduction target.

The ASX saw just 29 new listings in 2024, marking a 20-year low, though analysts remain optimistic for increased activity in 2025.

In the small-cap sector, Cyprium Metals Ltd was as much as 18.52% higher at $0.032 in early trading after news of a strategic alliance with Macmahon was announced before returning to the previous close of $0.027 while Prescient Therapeutics Ltd increased 17.31% to a daily high of $0.061 on positive news about its OmniCAR program and Buru Energy Ltd reached $0.052, a rise of 15.56%.

Antipa Minerals Ltd was up to 12.9% higher at $0.035, Astral Resources NL rose by 10.35% to a daily high of $0.16, Orthocell Ltd continued recent gains, rising 8.64% to $1.635, International Graphite Ltd traded up 7.l4% to $0.06 on positive news, Sovereign Metals Ltd hit $0.765, an increase of 6.25%, Far East Gold Ltd moved 5.56% higher to $0.19 and Peninsula Energy Ltd reached $1.61, a move of 4.89% on the previous close.

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