S&P/ASX 200 Down 0.72% As Australia Stocks Lower at Close of Trade on Friday

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At the close of trade, the S&P/ASX 200 in Australia was lower, dropping 0.72%. The index had a rough start to the day and could not shake off its losses.

The S&P/ASX 200 ended down 0.72%, with the biggest losers being A-REITs. Energy stocks were also down on the day. Consumer Discretionary stocks also faced a significant fall.

The material sectors also contributed to the decline, followed by financials. Information technology stocks ended flat with a 0% change in value on the day. In contrast, the consumer staples significant gain.

In the closing session, Westgold Resources Ltd (ASX: WGX) rose 12.58% or 0.10 points to trade at 0.85 on the S&P/ASX 200.

Silver Lake Resources Ltd (ASX: SLR) rose 7.03% or 0.09 points to 1.37 in late trade, while St Barbara Ltd (ASX: SBM) gained 10.40%.

Corporate Travel Management Ltd (ASX: CTD) had the most negative performance of the session, falling 5.85% or 0.96 points to close at 15.44. IPH Ltd (ASX: IPH) was down 5.15% or 0.46 points at 8.47, and Charter Hall Group (ASX: CHC) was down 5.13% or 0.73 points at 13.49.

On the Sydney Stock Exchange, rising stocks outnumbered declining ones by 671 to 613, while 359 stocks ended unchanged.

The share price of Corporate Travel Management Ltd (ASX: CTD) fell 5.85% or 0.96 to 15.44, its lowest level in 52 weeks.

As a measure of implied volatility, the S&P/ASX 200 VIX fell 0.18% to 12.81.

The price of gold futures for February delivery climbed by 0.06% or $1.00 to $1,816.20 a troy ounce.

AUD/USD remained unchanged at 0.31% to 0.68. On the contrary, AUD/JPY faced a steady decline of 0.27% to 91.90.

The US Dollar Index Futures was also down, scoring 0.22% at 104.46. Hence, it was quite a rough day for the Australian stock market.

NAB currency strategists predict that:

“The local currency will recover towards 70 US cents by the middle of next year—but not until the US Federal Reserve stops hiking rates.”

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