AU Evening Wrap: ASX dropped late as US futures declined

Moomoo News AU wrote a column · Mar 21, 2022 14:17

• ASX 200 index down 0.2% to 7,279
• Top gainers: Liontown Resources, Ebos, AVZ Minerals
• Top losers: Magellan, Atlas Arteria, Imugene
- moomoo News AU

The Australian sharemarket closed lower on Monday, despite a strong open, as Wall Street futures are down about 0.3% for the major indices.

The $S&P/ASX 200 (.XJO.AU)$ broke its 3 day winning streak closing 0.2% lower at 7278.5 with the tech sector up 2.5% but industrials and the health care sector dragged on the bourse.

Growth stocks provided most of the session’s best performers. $Block Inc (SQ2.AU)$ climbed 9.19 per cent, $Life360 Inc (360.AU)$ 6.44 per cent and $EML Payments Ltd (EML.AU)$ 6.1 per cent.

Value stocks came under pressure as investors switched to beaten-up growth companies. Toll road operators $Transurban Group (TCL.AU)$ and $Atlas Arteria Ltd (ALX.AU)$ dropped 2.43 and 3.73 per cent, respectively. $CSL Ltd (CSL.AU)$ gave up 1.47 per cent, $United Malt Group Ltd (UMG.AU)$ 3.79 per cent and $Bega Cheese Ltd (BGA.AU)$ 3.4 per cent.

S&P/ASX 200 Movers for Monday (3/21)