Australia Market falls on profit taking

Australia stock market finished session slightly lower on Tuesday, 10 January 2023, as investors opted to book profit made in previous four sessions, on following the weak cues from Wall Street overnight and caution ahead of US Fed Chair Jeremy Powell's speech later in the day for more clues on the rate-hike trajectory.

At closing bell, the benchmark S&P/ASX200 index fell 20.33 points, or 0.28%, to 7,131. The broader All Ordinaries index was down 19.21 points, or 0.26%, to 7,336.60.

Total 8 of 11 sectors ended lower along with the S&P/ASX 200 Index. Materials was the worst performing sector, falling 0.55%, followed by industrials (down 0.53%), utilities (down 0.48%), and information technology (down 0.39%) sectors. Telecommunications Services was the best performing sector, gaining 0.23%.

The top performing stocks in S&P/ASX200 index were BORAL and ARISTOCRAT LEISURE, up 2.65% and 2.2% respectively. The bottom performing stocks in S&P/ASX200 index were DE GREY MINING LIMITED and TELIX PHARMACEUTICALS LIMITED, down 7.94% and 7.71% respectively.

Energy and mining stocks declined, with BHP finishing down 0.4% to A$47.80 and Santos down 0.8% to A$7.05 while New Crest Mining lost 2.3% to close at A$22.27. Whitehaven Coal finished the session down 1.2% to A$9.07, while Rio ended 0.5% lower at A$118.23.

CURRENCY NEWS: The Australian dollar was stood at 0.6897 against greenback on Tuesday, down by 0.2% from previous trading day closure at 0.6875 after trading in the range of 0.6887-0.6928.

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