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Australian Stock Market Today – Monday September 26: What You Need to Know

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The Australian share market closes lower, as energy and mining stocks take a hit.

Australian market weighed down by energy and mining losses

Last updated: 4:50pm AEST

The ASX closed lower on Monday, after being pulled down by heavy losses across the Energy and Materials Sectors.

The S&P/ASX200 closed sharply lower, dropping 105.30 points or 1.60% for the day, to 6,469.40 and setting a new 50-day low.

The broader All Ordinaries index closed well down, dropping 121.20 points or 1.79% to 6,667.50.

Sectors ended the day mixed, with 6 of 11 sectors lower.

Energy and Materials were the biggest losers, falling more than 6% and 5% respectively. 

Woodside Petroleum (ASX:WDS) and Beach Energy (ASX:BPT) were amongst the biggest losing energy stocks.

Beach Energy shares tumbled, ending the day almost 7% down, while Woodside shares finished almost 5% lower.

ASX remains down, as global recession fears bite locally

Last updated: 1:40pm AEST

The ASX remained in negative territory in afternoon trading, but eased back from morning losses.

The S&P/ASX200 was down 82.70 points or 1.26% for the day, to 6,492.00. 

The broader All Ordinaries was down 98.10 points or 1.45% to 6,690.60.

Across the market, 7 of 11 sectors were lower, with Energy remaining the worst performing sector, falling more than 5.7% for the day.

The energy sell-off was reflected in Woodside Petroleum’s (WDS), share price, which fell more than 5%.

Bucking the market trend, was Altium (ASX:ALU). The electronics design software provider, saw its shares surge more than 4% in afternoon trading.

The stock’s rise comes as investors await Altium’s dividends distribution tomorrow.

ASX tumbles in morning trading

Last updated 11:10am AEST

Australian shares have started the week plunging around 2%.

The S&P/ASX200 was sharply lower, dropping 121.40 points or 1.85% to 6,453.30 and setting a new 20-day low. 

The broader All Ordinaries Index was down 137.50 points or 2.03% to 6,651.20.

Across the market, sectors were mixed, with 9 of 11 sectors are lower.

The Energy Sector was the worst performer, down more than 5%.

Pre-market breakdown

The ASX is set to tumble when the market opens this morning, as recession fears across the globe mount.

ASX futures were down 82 points by 1.25%, to 6478 approaching 6:30am AEST.

It follows on from heavy local losses on Friday, which erased $AU43 billion off the ASX, pushing the S&P/ASX 200 down 2.5 per cent for the week.

It was a similar story across U.S. markets, with the S&P 500 losing nearly 5% last week, while the Dow Jones Industrial Average closed at a new low for 2022. 

Those losses followed the U.S Federal Reserve’s decision to raise interest rates by another 75 basis-points on Wednesday, to help combat rising inflationary pressures. 

Ahead of Monday’s local market opening, the Australian dollar was around 0.10% lower, sitting at $US65.11c.

Brent Crude was down around 4%, at around US$86 a barrel.

Gold was down slightly by about 1.6%, at around $US1643 an ounce.

Iron ore was up around 0.50%, to sit at about US$101 a tonne.

Meanwhile, Bitcoin (BTC) was up by around 0.50%, to about US$18,932.

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