The Australian stock market saw a slight decline on Friday (November 29), with the overall market dragged down by weaker performances in sectors such as Real Estate Investment Trusts (REITs), industrial, and telecommunication services. By the close of the Sydney stock market, the S&P/ASX 200 index had fallen 0.10%, ending at 7,080.50 points.
Despite the overall downturn, certain stocks stood out. Webjet (ASX:WEB) led the gains, closing up 4.89% (0.24 points) to 5.15; followed closely by Resolute Mining (ASX:RSG), which rose 4.82% (0.02 points) to finish at 0.44. Megaport Ltd (ASX:MP1) also performed well, increasing by 3.68% (0.28 points), finishing at 7.89.
However, the market's weakness was also reflected in individual stocks. Omni Bridgeway Ltd (ASX:OBL) ended as the biggest decliner of the day, dropping 5.50% (0.06 points) to 1.03; Auckland International Airport Ltd (ASX:AIA) fell 3.31% (0.24 points) to 7.02; and Tabcorp Holdings (ASX:TAH) also experienced a decline, closing down 2.73% (0.02 points) at 0.54.
Despite most sectors falling, more stocks rose than fell on the Sydney exchange, with 572 stocks rising while 496 fell, and another 449 remained unchanged. The S&P/ASX 200 VIX, a measure of market volatility, fell by 0.60% to 10.48, indicating slightly stabilized market sentiment.
In the commodities futures market, gold futures rose 0.96% (25.49 points), closing at $2,686.99, driven by geopolitical tensions and safe-haven sentiments. Oil futures also saw gains, with WTI crude for January delivery rising 0.33% (0.23 points) to $69.11, and Brent crude for February delivery up 0.04% (0.03 points) to $72.81.
In the currency market, the AUD/USD rate held steady, edging up 0.24% to 0.65, while AUD/JPY fell 0.68% to 97.83. The US dollar index futures also retreated, with a decline of 0.26% to 105.86.
Overall, the Australian stock market's performance on Friday was relatively subdued, impacted by certain sectors, but some stocks shone brightly. Market focus remains on geopolitical situations, commodity price fluctuations, and upcoming economic data releases, which could continue to influence investor sentiment and market trends.
