Market Report August 27: ASX dips amid declines for Johns Lyng [Video]

Proactive’s Tylah Tully gives a Market Wrap for the 27th of August.

The ASX experienced a minor decline today, decreasing by 0.16% to 8,071.2 points. Despite the slight drop, the index has gained nearly 1% over the past five days and is currently 0.97% below its 52-week high.

Sector performance was mixed, with Energy and Materials being the only sectors to post gains. The Energy sector increased by 2.34%, driven by significant rises in Woodside Energy (up nearly 4%) and Santos (up nearly 2%). In contrast, the Information Technology sector fell by 1.33%, followed by Financials, which declined by 0.86%.

Top performers included Nanosonics Limited, which surged by 22.59% to $3.31, driven by strong financial results for the 2024 fiscal year. The company reported a gross profit margin of 77.9% and an operating profit before tax of $13 million.

On the downside, Johns Lyng Group shares dropped by 27.11% to $4.06 following the release of its financials. Despite record Business as Usual earnings, the company missed revenue expectations, reporting just over $1.5 million, significantly below the forecasted $1.21 billion. The shares hit a three-and-a-half-year low, falling as much as 32.9% during the day.

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