The S&P/ASX 200 Closed Down 0.94% At the Close of Trade in Australia

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Australian stocks were lower after the close on Thursday, with the S&P/ASX 200 dropping 0.94%. A decline in the Energy, Resources, and Utilities sectors was primarily responsible for lowering shares.

The worst session performer on Thursday was Whitehaven Coal Ltd (ASX: WHC), which fell by 4.92% or 0.48 points to trade at 9.28 at the close. The drop in share price marked another rough day for WHC, which has experienced significant losses throughout 2020 due to volatile market conditions, including unprecedented interruptions to their supply chains caused by the Covid-19 pandemic.

Woodside Energy Ltd (ASX: WDS) declined 4.54% or 1.67 points to end at 35.14, and Santos Ltd (ASX: STO) was down 3.93%. Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 655 to 471, and 385 ended unchanged.

The S&P/ASX 200 VIX increased by 3.17% to 12.84, indicating that investors remain uncertain about the near-term prospects for Australian stocks.

Despite this downturn in equities markets today, some traders remain bullish about Australian stocks.

One of the day’s best performances came from Kogan.com Ltd (ASX: KGN), which rose 3.36% or 0.11 points to trade at 3.38 at the close.

Meanwhile, Lend Lease Group (ASX: LLC) added 3.25% or 0.25 points to end at 7.94, a solid gain compared to the day’s overall market decline. Strong fundamentals, including healthy second-quarter earnings and an improved cash flow outlook for the year, buoyed the company’s stock.

Pointsbet Holdings Ltd (ASX: PBH) was also up 2.85% or 0.04 points to 1.45 in late trade, continuing its recent performance trend as investors remain bullish on its prospects as an online gambling provider in Australia and New Zealand markets.

According to Investing.com, “AUD/USD was unchanged 0.12% to 0.67, while AUD/JPY fell 0.59% to 90.04.”

This slight decline offered some respite for traders, who had seen a volatile week against their major counterparts for the AUD. The US Dollar Index Futures also ended the day essentially unchanged at 104.18.

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