The Australian stock market experienced a downturn on Monday as losses in the Energy, Resources, and Metals & Mining sectors contributed to a decline in share values. The S&P/ASX 200 fell by 0.82%, marking a new 6-month low in the closing trading session.
Notable among the top performers on the S&P/ASX 200 was ARB Corporation Ltd (ASX:ARB), which witnessed an increase of 5.29% or 1.60 points, closing at 31.86. Additionally, Zip Co Ltd (ASX:ZIP) showed a gain of 5.26% or 0.02 points, closing at 0.30, while Resolute Mining Ltd (ASX:RSG) posted a 4.23% gain of 0.02 points to finish at 0.37 during the late trading hours.
Conversely, Pilbara Minerals Ltd (ASX:PLS) was one of the session’s underperformers, experiencing a 7.25% decline of 0.28 points to close at 3.58. Mineral Resources Ltd (ASX:MIN) saw a 5.22% decline, with a drop of 3.11 points to end at 56.44, and IGO Ltd (ASX:IGO) reported a 5.20% decrease of 0.58 points, closing at 10.58.
The Sydney Stock Exchange bore witness to 768 falling stocks, outnumbering the 442 advancing ones, with 349 remaining unchanged.
Notably, Mineral Resources Ltd (ASX:MIN) and IGO Ltd (ASX:IGO) both reached 52-week lows, with the former declining 5.22% to 56.44, and the latter falling 5.20% to 10.58.
In other market indicators, the S&P/ASX 200 VIX, which gauges the implied volatility of S&P/ASX 200 options, surged by 6.40% to reach 15.95, marking a new 6-month high.
Furthermore, Gold Futures for December delivery saw a 0.34% decline, with a drop of 6.70 points, closing at $1,987.70 per troy ounce. In the commodities market, Crude oil for December delivery reported a 0.94% decrease, with a loss of 0.83 points, to conclude at $87.25 per barrel, while the December Brent oil contract declined by 0.75% or 0.69 points, finishing at $91.47 per barrel.
The AUD/USD exchange rate remained relatively stable, with a marginal 0.05% change, settling at 0.63, while AUD/JPY experienced a slight dip of 0.02%, closing at 94.67.
The US Dollar Index Futures increased by 0.11%, reaching 106.10, reflecting market dynamics at the close of the trading session.
