OzRant for Friday, November 20th

Ords slides 1.2%; volume above average and losers dominate breadth stats by 4:1: sector indices down across the board. The NZSE50 closed down 0.9 for the day.In Japan, the Nikkei225 is currently trading down 0.9% for the session; Hong Kong’s Hang Seng is down 0.5%.The KOSPI has added 0.2% for the session thus far.

The following economic data was released during the session:

• BoJ Interest Rate Decision for was released in Japan; the series posted a reading of 0.1% a decline of 0 from the prior reading of 0.1% – less than expectations of 0.1%.
• Credit Card Spending for Oct was released in New Zealand; the series posted a reading of -0.4% a gain of 1.9 from the prior reading of -2.3%

Major Market Indices

The broad market – the All Ordinaries (XAO) – dipped reasonably hard, registering a loss of 57.4 points (1.2%), finishing at 4710.4 points. The index hit an intraday high of 4767.8 at 10:00 am, while the low for the day was 4694.7 – set at 1:49 pm Sydney time.

Total volume traded on the ASX was 2.3bn units, 7.2% above its 10-day average of 2.15bn shares.The ASX’s daily listing of all stocks included 1289 different 3-letter FPO’s which traded (i.e., had non-zero trade volume). Of these, 378 issues rose, with volume in rising issues totalling 917m units; there were 616 declining stocks, which traded aggregate declining volume of 1.06bn shares.

Of the 500 All Ordinaries components, 114 rose while 298 fell. Volume was tilted in favour of the losers by a margin of 4:1, with 155.13m shares traded in gainers while 621.75m shares traded in the day’s losers.

The Index that forms the cash basis for the SPI Futures – the S&P/ASX 200 (XJO) – registered a loss of 59.8 points (1.26%), closing out the session at 4689.4 points.

Name	Close	+/-(%)
All Ordinaries	4710.40	-57.40 (1.2%)
ASX 20	2843.20	-37.50 (1.3%)
ASX 50	4698.90	-61.50 (1.3%)
ASX 100	3839.10	-50.30 (1.3%)
ASX 200	4689.40	-59.80 (1.3%)
ASX 300	4690.40	-59.40 (1.3%)
ASX Mid-Cap 50	4282.20	-56.90 (1.3%)
ASX Small Ordinaries	2551.60	-19.70 (0.8%)

The “heavy hitters” of the Australian market – the ASX 20 Leaders (XTL) – registered a loss of 37.5 points (1.3%), closing out the session at 2843.2 points.

Among the 20 big guns, 2 index components finished to the upside, and 18 lost ground. The stocks which make up the index traded a total of 115m units; 2 index components rose, with rising volume amounting to 5.59m shares, while the 18 decliners had volume traded totalling 83.96m units. The major percentage gainers within the index were

• QBE Insurance Group Ltd (QBE), +$0.06 (0.27%) to $22.61 on volume of 2.3 million shares; and
• Wesfarmers Ltd (WES), +$0.06 (0.21%) to $29.25 on volume of 3.3 million shares.

On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:

• Brambles Industries Ltd (BXB), -$0.2 (2.96%) to $6.56 on volume of 8.8 million shares;
• Westfield Group (WDC), -$0.37 (2.92%) to $12.32 on volume of 5.4 million shares;
• Woodside Petroleum Ltd (WPL), -$1.4 (2.79%) to $48.70 on volume of 2.3 million shares;
• ANZ Banking Group (ANZ), -$0.5 (2.25%) to $21.75 on volume of 7.4 million shares; and
• AMP Ltd (AMP), -$0.13 (2.01%) to $6.33 on volume of 12.9 million shares.

The ASX Small Ordinaries (XSO) The small end of the market , while still dropping overall, did significantly better than its large-cap counterpart. The Small Ords slid modestly, falling 19.7 points (0.77%), closing out the session at 2551.6 points.

Among the stocks that make up the Small Caps index, 59 index components finished to the upside, and of the rest, 149 closed lower for the session.

The 235 stocks which make up the index traded a total of 507.49m units: volume in the 59 gainers totalling 115.51m shares, with trade totalling 259.89m units in the index’s 149 declining components. The major percentage gainers within the index were

• Sylvania Resources (SLV), +$0.09 (11.69%) to $0.86 on volume of 129.3 thousand shares;
• PaperlinX Ltd (PPX), +$0.05 (8.74%) to $0.56 on volume of 1.6 million shares;
• Abacus Property Group (ABP), +$0.02 (4.76%) to $0.44 on volume of 3.2 million shares;
• ING Industrial Fund (IIF), +$0.02 (4.65%) to $0.45 on volume of 43.1 million shares; and
• Challenger Infrastructure Fund (CIF), +$0.08 (4.21%) to $1.86 on volume of 69.4 thousand shares.

In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):

• Boom Logistics (BOL), -$0.06 (11.7%) to $0.42 on volume of 1.6 million shares;
• Intrepid Mines (IAU), -$0.03 (8.33%) to $0.28 on volume of 2.3 million shares;
• Alliance Resources (AGS), -$0.04 (6.5%) to $0.58 on volume of 3.2 million shares;
• Berkeley Resources (BKY), -$0.08 (6.25%) to $1.13 on volume of 714.4 thousand shares; and
• Arafura Resources Ltd (ARU), -$0.04 (4.91%) to $0.78 on volume of 341.2 thousand shares.

Index Changes

Code	Name	Close	+/-	%	Volume
XAO	All Ordinaries	4710.4	-57.4	-1.2	951.2m
XFL	ASX 50	4698.9	-61.5	-1.29	259.7m
XJO	ASX 200	4689.4	-59.8	-1.26	788.3m
XKO	ASX 300	4690.4	-59.4	-1.25	902.7m
XMD	ASX Mid-Cap 50	4282.2	-56.9	-1.31	165.2m
XSO	ASX Small Ordinaries	2551.6	-19.7	-0.77	477.8m
XTL	ASX 20	2843.2	-37.5	-1.3	109.6m
XTO	ASX 100	3839.1	-50.3	-1.29	424.9m

Market Breadth

	ASX20	XTO	XJO	XAO	XSO	Market
Advances	2	9	40	114	59	378
Declines	18	93	193	298	149	616
Advancing Volume	5.6m	78.3m	174.1m	155.1m	115.5m	917m
Declining Volume	84m	453.2m	742.5m	621.7m	259.9m	1.06bn

GICS Industry Indices

Among the 11 industry indices, the news was universally negative: not a single sector managed to break into the “Win” column.

Since none of the industry sectors registered a gain for the session, there is no point in burdening ourselves with the internal behaviour of advancing sectors… on to the losers.

The worst-performed index for the session was Property Trusts (XPJ), which dipped 19.8 points (2.17%) to 891.2 points. The 22 stocks which make up the index traded a total of 189.64m units; The 17 decliners had volume traded totalling 141.59m units, and 4 index components rose, with rising volume amounting to 46.59m shares, The major percentage decliners within the index were

• GPT Group (GPT), -$0.03 (3.79%) to $0.64 on volume of 29.2 million shares;
• Valad Property Group (VPG), -$0.01 (3.7%) to $0.13 on volume of 7.1 million shares;
• Astro Japan Property Group (AJA), -$0.02 (3.16%) to $0.46 on volume of 1 million shares;
• Westfield Group (WDC), -$0.37 (2.92%) to $12.32 on volume of 5.4 million shares; and
• Centro Retail (CER), -$0.01 (2.86%) to $0.17 on volume of 6.2 million shares.

Just missing out on the wooden spoon was Industrials (XNJ), which slid 60 points (1.56%) to 3793.1 points. The 34 stocks which make up the index traded a total of 121.75m units; The 29 decliners had volume traded totalling 119.87m units, and 4 index components rose, with rising volume amounting to 1.31m shares, The major percentage decliners within the index were

• Virgin Blue Hldgs Ltd (VBA), -$0.02 (3.7%) to $0.52 on volume of 5.3 million shares;
• Alesco Corp (ALS), -$0.17 (3.4%) to $4.83 on volume of 185.6 thousand shares;
• Brambles Industries Ltd (BXB), -$0.2 (2.96%) to $6.56 on volume of 8.8 million shares;
• Leighton Hldgs Ltd (LEI), -$1 (2.69%) to $36.21 on volume of 670.8 thousand shares; and
• Connecteast Group (CEU), -$0.01 (2.35%) to $0.42 on volume of 4.9 million shares.

Third-to-last amongst the sector indices was Consumer Discretionary (XDJ), which slid 24.9 points (1.53%) to 1607.7 points. The 23 stocks which make up the index traded a total of 35.74m units; The 17 decliners had volume traded totalling 28.03m units, and 3 index components rose, with rising volume amounting to 4.07m shares, The major percentage decliners within the index were

• Aristocrat Leisure Ltd (ALL), -$0.28 (6.14%) to $4.28 on volume of 4.5 million shares;
• Austar United Communications (AUN), -$0.07 (4.48%) to $1.39 on volume of 754.5 thousand shares;
• Pacific Brands Ltd (PBG), -$0.05 (3.42%) to $1.27 on volume of 3.3 million shares;
• APN News & Media Ltd (APN), -$0.06 (2.51%) to $2.33 on volume of 974.4 thousand shares; and
• Fairfax Media Ltd (FXJ), -$0.04 (2.36%) to $1.66 on volume of 5.4 million shares.

Sector Indices

Code	GICS Sector	Close	+/-	%	Volume
XTJ	Telecommunications	1134.4	-1.7	-0.15	33m
XSJ	Consumer Staples	7594.2	-47.5	-0.62	54m
XHJ	Healthcare	8340.5	-57.6	-0.69	13m
XUJ	Utilities	41851	-39.5	-0.93	75m
XIJ	Information Technology	615.3	-6.4	-1.03	1m
XEJ	Energy	15835.8	-178.2	-1.11	49m
XMJ	Materials	12077.3	-155.1	-1.27	160m
XXJ	Financials ex Property Trusts	5417.5	-76.4	-1.39	77m
XDJ	Consumer Discretionary	1607.7	-24.9	-1.53	36m
XNJ	Industrials	3793.1	-60	-1.56	122m
XPJ	Property Trusts	891.2	-19.8	-2.17	190m

All Ordinaries Major Movers

All Ords Volume Leaders

Code	Name	Close	+/-	%	Volume
BBI	Babcock & Brown Infrastructure Group	0.04	0.00	0	61.5m
BLY	Boart Longyear	0.33	-0.01	-1.52	49.6m
IIF	ING Industrial Fund	0.45	0.02	4.65	43.1m
GPT	GPT Group	0.64	-0.03	-3.79	29.2m
ELD	Elders Ltd	0.17	-0.01	-2.94	26.4m

All Ords Percentage Gainers

Code	Name	Close	+/-	%	Volume
GWR	Golden West Resources	0.62	0.11	20.59	543.4k
CRK	Carrick Gold	1.00	0.12	13.64	330.7k
SLV	Sylvania Resources	0.86	0.09	11.69	129.3k
PPX	PaperlinX Ltd	0.56	0.05	8.74	1.6m
GNM	Gujarat NRE Minerals Ltd	0.70	0.06	8.59	132.4k

All Ords Percentage Losers

Code	Name	Close	+/-	%	Volume
BOL	Boom Logistics	0.42	-0.06	-11.7	1.6m
KIL	KFM Diversified Infrastructure And Logistics Fund	0.86	-0.09	-8.99	95.5k
IAU	Intrepid Mines	0.28	-0.03	-8.33	2.3m
QTM	Quantum Energy	0.18	-0.02	-7.89	85.8k
IAG	Insurance Australia Group Ltd	3.93	-0.28	-6.65	11.5m

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