ASX 200 Drops Despite Recent Gains
The S&P/ASX 200 fell 47.30 points, or 0.59%, to 7,951.70 by 2:39 pm AEDT on 27 March. This decline comes despite the index crossing above its 20-day moving average.
Over the past five days, the ASX 200 gained 0.41%. However, the year-to-date performance remains negative, with a 2.54% decline.
Tech and Real Estate Sectors Lead Market Decline
Eight out of eleven sectors traded lower, dragging the market down. The worst-performing sector was real estate, which dropped 2.04%, followed by information technology, down 1.88%.
Financials also struggled, declining 0.88%, while discretionary stocks shed 1.12%. Telecommunications and industrials dropped 0.85% and 0.68%, respectively.
Only three sectors managed to stay in the green. Energy stocks led with a 0.89% gain, while materials and utilities rose 0.39% and 0.37%, respectively.
ZIP Co and Pro Medicus Struggle as Healius Surges
ZIP Co Ltd and Pro Medicus Ltd ranked among the worst performers on the ASX 200. ZIP Co fell 8.31% to $1.7375, while Pro Medicus dropped 7.44% to $210.80.
However, Healius Ltd surged 12.02% to $1.4675, making it the biggest gainer of the day. Meridian Energy Ltd followed with a 6.12% increase to $5.20.
Biggest Winners and Losers
Top Gainers:
- Healius Ltd (ASX: HLS) – Up 12.02% to $1.4675
- Meridian Energy Ltd (ASX: MEZ) – Up 6.12% to $5.20
- Smart Parking Ltd (ASX: SPZ) – Up 5.76% to $0.735
- Macmahon Holdings Ltd (ASX: MAH) – Up 5.66% to $0.28
- Meeka Metals Ltd (ASX: MEK) – Up 5.56% to $0.1425
Biggest Fallers:
- Firefly Metals Ltd (ASX: FFM) – Down 10.27% to $1.005
- Tuas Ltd (ASX: TUA) – Down 8.97% to $5.28
- EBR Systems Inc (ASX: EBR) – Down 8.96% to $1.83
- Regal Partners Ltd (ASX: RPL) – Down 8.85% to $2.37
- ZIP Co Ltd (ASX: ZIP) – Down 8.31% to $1.7375
Outlook: Can the ASX 200 Bounce Back?
The ASX 200 remains under pressure, with technology and real estate stocks weighing on sentiment. While energy and materials provided some support, investors remain cautious.
With ongoing market volatility, traders will watch economic data and global trends for signs of stability.
