Australia ASX200 falls 0.3%

The Australian share market finished session lower on Friday, 30 July 2021, as 8 of 11 sectors down along with the S&P/ASX 200 Index, with information technology, utilities, energy, and consumer discretionary stocks being notable losers.

At closing bell, the benchmark S&P/ASX200 declined 24.77 points, or 0.33%, to 7,392.62. The broader All Ordinaries decreased 31.06 points, or 0.4%, to 7,664.19.

Market risk sentiments dampened amid lingering concerns over the country's economic outlook after the rapid spread of highly contagious coronavirus variants in New South Wales, with the extension of lockdown in Greater Sydney hindering economic activity. New South Wales reported 170 new local coronavirus cases, with the lockdown extended by another four weeks after seeing the biggest one-day rise in new infections Thursday.

 

Shares of tech companies were the biggest losers on the benchmark. Sector heavyweights Afterpay and Xero shed 2.9% and 0.5%, respectively.

Energy stocks were down, with Santos and Oil Search falling 0.6% and 0.8%, respectively. Origin Energy fell after the power and gas retailer expects A$2.25 billion charge in fiscal 2021 and forecast lower core earnings in its energy markets business for the next two years.

CURRENCY NEWS: The Australian dollar changed hands at $0.7384, after a dip earlier in the week to around $0.735.

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