• NIFTY  
    11,367.65
    (0.12%)
  • SENSEX  
    37,831.44
    ( 0.06%)
  • USDINR  
    68.98
    ( 0.63%)
  • GOLD  
    32,131.00
    ( -0.29%)
  • Foreign Markets - Detailed News

Australia Market falls on profit booking
26-Feb-19   09:50 Hrs IST
Headline indices of the Australian financial market were lower on Tuesday, 26 February 2019, as investor elected to book profit after a rush of trade optimism on U.S.-China trade talks from early Monday faded. Most of ASX sectors declined, with shares in with tech, materials, and energy issues leading losses. Around late afternoon, the benchmark S&P/ASX200 index dropped 78.52 points, or 1.27%, at 6,107.80 points, while the broader All Ordinaries declined 74.07 points, or 1.18%, at 6,189.50.

Market paring its yesterday advance as U.S. President Donald Trump said on Monday he was optimistic that a final trade deal could be reached with China and that he would hold a summit to sign any pact, but cautioned that an agreement may still not happen.

Traders are awaiting for signs on the progress on trade expressed by the world's two biggest economies that has been tested by protectionism and forecasts of slowing global economic growth. Also in focus will be a hearing from Federal Reserve Chairman Jerome Powell, where investors will get the latest read on monetary policy.

Shares of major materials and resources were down on profit booking after yesterday's gain on the back of Trump statement on Sunday that he would delay a tariff hike on $200 billion of Chinese imports planned for March 1 after “productive” trade talks. The delay in a tariff hike was the clearest signs yet that both sides were making progress in the talks, but Trump on Monday also sounded a note of caution, saying a deal “could happen fairly soon, or it might not happen at all.” Global miner BHP Group and rival Rio Tinto shed 1.5% and 1.2%, respectively. Alumina fell as much as 8.8%, as the stock trades ex-dividend.

Energy stocks declined, as crude oil prices fell 3% on Monday after U.S. President Donald Trump called on OPEC to ease its efforts to boost crude prices, which he said were “getting too high.” Santos Ltd and WorleyParsons dropped 2.6% and 3%, respectively, with both stocks trading ex-dividend.

Tech shares declined, with Afterpay leading losses, down as much as 8% after announcing a net first-half loss of $22.2 million on higher employment expenses and expansion in the US and UK.

The banking sector was under pressure, with big four banks ANZ, Commonwealth, NAB and Westpac were down between 0.08% and 0.81%.

In company news, Slater & Gordon (SGH) shares were under pressure, plunging 14.2%, after the law firm reported A$10.3 million firsthalf loss. Total revenue and other income from continuing operations fell 12% to A$75.1 million, as stronger class action revenues were offset by lower income from its personal injury business.

Estia Health (EHE) shares declined 2.1% after the aged care provider downgraded its full-year guidance. EHE reported a 4.1% lift in first half profit to A$21.1 million, while revenue rose 6.6% to A$289.7 million. The company will pay an interim dividend of 8 cents per share, fully franked. EHE is now expecting FY19 earnings growth in the low-to-mid single digits, down from its prior forecast of midsingle digit growth - subject to no further material changes in market or regulatory conditions.

CURRENCY: The Australian dollar rose against the U.S. dollar on Tuesday. The Aussie currency was quoted 71.64 US cents from 71.48 US cents on Monday.

Powered by Capital Market - Live News

Useful Links

Attention Investors
Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day.............issued in the interest of investors. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account                                    "KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
Investors should be cautious of unsolicited emails and SMS advising to buy, sell or hold securities and trade only on the basis of informed decision. Investors are advised to invest after conducting appropriate analysis of respective companies and not to blindly follow unfounded rumours, tips etc. Further, you are also requested to share your knowledge or evidence of systemic wrongdoing, potential frauds or unethical behaviour through the anonymous portal facility provided on BSE & NSE website.BSE   http://www.bseindia.com/investors/tip-off-registration.aspx?expandable  NSE   https://www.nseindia.com/int_invest/dynacontent/any_portal.htm
All payments to Stock Broker shall be received from the market intermediaries/participants strictly by account payee crossed cheques / demand drafts or by way of direct credit into the bank account through electronic fund transfer, or any other mode permitted by the Reserve Bank of India. Stock Brokers shall not accept cash from their clients either directly or by way of cash deposit to the Bank Account of Stock Broker.
Group Companies Members of : BSE, NSE, MCX, MCX.SX, CDSL, NCDEX, Broking Services, Depository Services, Portfolio Management Services, Member Area IPO Distribution, Insurance Broking
BSE Clearing No.: 911 | SEBI Regn. No.: INZ000177531 (Cash/F&O) | NSE Clearing No.: 11858 | SEBI Regn. No. INZ000177531 (Cash/F&O/CDs) | MCX-SX Clearing No.: 11400 | SEBI Regn. No.: INZ000177531 (CDs) | CDSL DP ID: 30300 | SEBI Regn. No.: IN-DPCDSL-210-2003 | MCX SEBI Reg No.: INZ000032336 | MCX: 10665 | NCDEX: 00254 | NBFC RBI Regn. No.: 13.01851
© Copyright 2018 Ajmera Associates Ltd ( ISO 9001:2015 Certified )
Designed, Developed and Powered By CMOTS Infotech ( ISO 9001:2015 Certified )