Australian Shares Slip as IT, Healthcare and Gold Stocks Drag Index Lower

S&P/ASX 200 falls 1.39% as market breadth tilts heavily toward decliners; Cochlear plunges to three-year lows

By Caleb Monroe AMP ASB

Australian Shares Slip as IT, Healthcare and Gold Stocks Drag Index Lower

AMP ASB

Australia's S&P/ASX 200 closed down 1.39% on Friday as losses concentrated in the IT, Healthcare and Gold sectors pushed most stocks lower. Market breadth was heavily negative with 955 decliners versus 253 advancers and 325 unchanged. Major individual moves included steep falls at Austal, Nick Scali and Cochlear, while AMP, GQG Partners Inc DRC and Origin Energy were among the session's top gainers. Volatility measures and commodities showed mixed movement, with the S&P/ASX 200 VIX up and gold futures higher.

Key Points

S&P/ASX 200 closed down 1.39%, with IT, Healthcare and Gold sectors leading losses.
Market breadth was heavily negative: 955 decliners, 253 advancers, 325 unchanged.
Major movers included steep declines at Austal (ASB), Nick Scali (NCK) and Cochlear (COH), while AMP (AMP), GQG (GQG) and Origin (ORG) led gains.

Summary

Australia's equity market closed lower on Friday, with the S&P/ASX 200 retreating 1.39% as declines in Information Technology, Healthcare and Gold names weighed on the index. Market breadth was skewed toward losers, and a handful of stocks recorded double-digit percentage moves in either direction.

Market close details

At the close in Sydney, the S&P/ASX 200 declined 1.39%.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 955 to 253 and 325 ended unchanged, underscoring the broad-based nature of the sell-off.

Top performers

AMP Ltd (ASX:AMP) rose 8.98% or 0.12 points to trade at 1.39 at the close.
GQG Partners Inc DRC (ASX:GQG) added 6.83% or 0.11 points to end at 1.72.
Origin Energy Ltd (ASX:ORG) was up 4.52% or 0.52 points to 12.02 in late trade.

Largest decliners

Austal Ltd (ASX:ASB) fell 22.35% or 1.41 points to trade at 4.90 at the close.
Nick Scali Ltd (ASX:NCK) declined 21.82% or 5.19 points to end at 18.60.
Cochlear Ltd (ASX:COH) was down 18.74% or 46.04 points to 199.60.

Shares in Cochlear Ltd (ASX:COH) fell to 3-years lows; losing 18.74% or 46.04 to 199.60.

Volatility and commodities

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 15.43% to 13.59.

Gold Futures for April delivery was up 0.99% or 48.90 to $4,997.30 a troy ounce.

Elsewhere in commodities trading, Crude oil for delivery in March fell 0.32% or 0.20 to hit $62.64 a barrel, while the April Brent oil contract fell 0.24% or 0.16 to trade at $67.36 a barrel.

Foreign exchange and dollar

AUD/USD was unchanged 0.21% to 0.71, while AUD/JPY fell 0.02% to 108.29.

The US Dollar Index Futures was up 0.08% at 96.91.

What this means

The session closed with a broad decline across sectors led by IT, Healthcare and Gold, punctuated by several large individual stock moves. Volatility as measured by the S&P/ASX 200 VIX rose, and gold futures moved higher even as oil contracts edged lower. Currency pairs displayed limited movement, with the US dollar slightly firmer in futures trading.

Risks

Continued weakness in IT, Healthcare and Gold sectors could exert further downward pressure on the S&P/ASX 200, impacting portfolio returns tied to these sectors.
Elevated implied volatility, with the S&P/ASX 200 VIX up 15.43% to 13.59, signals higher option-implied uncertainty that may increase trading costs and short-term price swings for equity investors.
Large individual stock moves, such as the declines at Austal, Nick Scali and Cochlear, introduce company-specific risk that can affect sector indices and active portfolios with concentrated holdings.

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Australian Shares Slip as IT, Healthcare and Gold Stocks Drag Index Lower

Key Points

Risks

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