Proactive’s Tylah Tully gives us a market wrap for October 8.
The ASX closed down 0.35% today, reaching 8,176.9 points, falling 0.39% over the last five days and sitting 1.31% below its 52-week high.
Top performers included West African Resources, which rose 7.46% to $1.44 per share, and Credit Corp Group, which added $0.60 to trade at $16.77.
On the downside, Fortescue dropped 5.31% to $19.27, and Liontown fell 5.11% to close at $0.83 per share.
Seven of the eleven sectors were lower, with Healthcare as the best-performing sector, up 0.75%, while Materials was the worst, down 1.74%, driven by declines in BHP, Fortescue Metals Group (FMG), and Mineral Resources.
The Reserve Bank of Australia (RBA) held the cash rate at 4.35% during its September meeting, with future rate hikes possible if inflationary pressures increase. Core inflation remains high at 3.4% despite headline inflation easing to 2.7% in August.