End of Day Report – Wednesday 24 September: Big Four rally evaporates | Tech under pressure
Description
The ASX 200 has finished the day down 81 points or 0.9%. Ending on the session low as the midday inflation linked sell-off continued into the close. Financials worst as yesterday’s Big Four rally evaporated. Banks down between 1.4% and 3.2%. MQG down 1.8%. Insurers escaped, most flat. Stock market stocks mixed but mostly down. GQG flat. PTM -2.1%. HUB -3%. Health Care, Discretionary Stocks and Tech stayed under pressure. CSL down 1.3%. PME and TLX reversing strong sessions yesterday. Both down over 3%. No major damage in Discretionary names as the prospect of even one rate cut was slightly dampened. JBH and HVN only down around 1%. GYG worst down 3.1%. WTC worst of the tech names. Failing to recover from its results drop. TNE best up 1.2% on positive broker commentary. CDA also in the green as defence stocks rose. DRO now up over 13% in two days.
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