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The ASX Index Opened and Closed At a Decline Today

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The ASX Index opened and closed at a decline today. The ASX protracted its losses from the previous session and the benchmark S&P/ASX 200 remained barely above 7,200. Many of the cues from Wall Street in overnight trading were lackluster. Materials, energy, and financial shares drug the markets down further as well. Investors are still very worried about the spread of the prominent Delta strain of COVID affecting markets.

Victoria has documented 13 more COVID infections in their area. New active cases are increasing every day. New South Wales documented 78 new infections this week while South Australia has begun a new string of lockdowns and restrictions. The benchmark S&P/ASX 200 Index lost a total of 26.10 points, or 0.36% today. This drops it to 7,259.90 after hitting a low of 7,205.00 at the open.

The largest miners like BHP Group and Rio Tinto have both lost more than 2%. Fortescue Metals is declining more than 1% itself as well. Mineral Resources and OZ Minerals have both lost nearly 2%. Oil shares are lower as well after crude oil prices lost gains in overnight trading. Santos and Beach energy have lost ground of more than 3% and Origin Energy has fallen more than 1% today as well.

We see that oil Search is up almost 3% proceeding from the confirmation that it gets $8.8 billion deal from Santos. Search rejected this deal, however. Commonwealth Bank and Westpac have both declined more than 1% today. National Australia Bank is also losing more than 1% after lockdowns persisted. ANZ Banking has reclaimed 0.3% in today’s trade though. MetaNews saw Afterpay and WiseTech Global incline more than 1% in trade today also. MetaNews is keeping abreast of the situation with the Delta Variant across several markets this week. The ASX Index opened and closed at a decline today as well.

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Billy Houghton

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