ASX 200 Remains Deep in the Red as Market Struggles [2:55 PM AEDT]
The S&P/ASX 200 continues to trade lower, dropping 116.60 points (1.46%) to 7,865.40 as of 2:55 pm AEDT on 31 March. While the index has slightly recovered from its earlier 1.58% drop, it remains on a downward trajectory. Over the past five days, it has lost 0.83%, and over the last year, it has shed 0.40%.
Pilbara Minerals and Light & Wonder Lead Declines
Lithium miners and gaming stocks continue to struggle. Pilbara Minerals Limited (ASX: PLS) remains the worst performer, sliding 7.77% to $1.692. Light & Wonder Inc. (ASX: LNW) follows closely, tumbling 7.46% to $140.02.
Other major losers include:
- ZIP Co Limited (ASX: ZIP): Down 16% to $1.62
- Lifestyle Communities Limited (ASX: LIC): Down 62% to $7.72
- Life360 Inc. (ASX: 360): Down 46% to $19.825
Top Performers: Orora Surges Over 3.6%
A handful of stocks remain in positive territory despite the overall selloff. Orora Limited (ASX: ORA) is the top gainer, rising 3.61% to $1.865. Auckland International Airport (ASX: AIA) is also up 1.77%, trading at $7.45.
Other gainers include:
- WiseTech Global Limited (ASX: WTC): Up 87% to $80.75
- Perseus Mining Limited (ASX: PRU): Up 75% to $3.365
- Sigma Healthcare Limited (ASX: SIG): Up 69% to $2.91
All 11 Sectors Remain in the Red, Materials Hit Hardest
The market-wide decline continues, with all 11 sectors in negative territory. Utilities, which had been the most resilient, has now fallen 0.50%, reversing its earlier five-day gains. The Materials sector is taking the hardest hit, falling 2.70%, as major mining stocks continue to slide.
Outlook: Uncertainty Weighs on the Market
The broad-based selloff suggests investor caution remains high. With no clear catalysts for recovery, market sentiment could remain weak in the short term.
ASX 200 Drops Over 1.5% in a Sharp Fall [1:29 pm AEDT]
The Australian share market is deep in the red today, with the S&P/ASX 200 plunging 125.80 points (1.58%) to 7,856.20 as of 1:29 pm AEDT on 31 March. This steep drop follows a 0.95% decline over the past five days and a 0.52% dip over the last year.
Figure 1: The ASX 200 is deep in the red today
Biggest Losers: Pilbara Minerals and Light & Wonder Take Heavy Hits
Miners and tech-related stocks have taken the biggest hits today. Pilbara Minerals Limited (ASX: PLS) leads the losses, dropping 7.90% to $1.69. Light & Wonder Inc. (ASX: LNW) follows closely, sinking 6.73% to $141.12.
Other major losers include:
- ZIP Co Limited (ASX: ZIP): Down 16% to $1.637
- Life360 Inc. (ASX: 360): Down 96% to $19.72
- Lifestyle Communities Limited (ASX: LIC): Down 50% to $7.73
Top Performers: Orora, Auckland Airport See Gains
Despite the overall market drop, a handful of stocks are in positive territory. Orora Limited (ASX: ORA) leads the gains, rising 3.06% to $1.855. Auckland International Airport Limited (ASX: AIA) is up 2.59%, trading at $7.51.
Other gainers include:
- The A2 Milk Company (ASX: A2M): Up 06% to $8.065
- TPG Telecom Limited (ASX: TPG): Up 63% to $4.81
- WiseTech Global Limited (ASX: WTC): Up 55% to $80.49
All 11 Sectors in the Red, Utilities Holds Ground
The market-wide selloff has dragged all 11 sectors lower today. Utilities is the top-performing sector, down just 0.36%, showing some resilience compared to the broader market. However, the sector remains flat over the last five days.
Figure 2: The market-wide selloff has dragged all 11 sectors lower today.
High Trading Volumes in Several Stocks
Investors are trading heavily in select stocks, with Alcoa Corporation (ASX: AAI) seeing a 1,035% spike in volume to 643.1K shares. Block Inc. (ASX: XYZ) also recorded a massive 879% jump in trading activity, with 1.08 million shares exchanged.
Other volume outliers include:
- News Corporation (ASX: NWS): 05K shares traded, up 865%
- Light & Wonder Inc. (ASX: LNW): 58K shares traded, up 701%
- James Hardie Industries (ASX: JHX): 25 million shares traded, up 390%
Market Outlook: Investors Brace for More Volatility
With all sectors in negative territory, investors remain cautious. The sharp declines in mining and tech stocks suggest ongoing uncertainty. Traders will closely watch global markets and economic indicators for signs of a turnaround.
