The ASX 200 seesawed in afternoon trade but mostly traded sideways as it closed the day slightly up by 0.26%, maintaining its level above 7,000 at 7,096.

The Tech sector also managed to stand its ground, up 0.6%, despite the biggest one day stock plunge in US stock market history as Meta (Facebook) plummeted 26% and wiped out US$230bn of market cap.

Other ASX sectors to rise today include Energy and Industrials, while most other sectors found themselves in the red by less than 0.5%.

The Materials sector meanwhile lost ground 0.25% as heavyweight Boral (ASX:BLD) adjusted down its valuation by 40% after trading ex-dividend, along with a massive cash distribution to shareholders.

On the economics front, a quarterly note released by the RBA today predicted that unemployment rate could fall to 3% if Australia could move on quickly from the Omicron outbreak.

The note also revealed that the central bank expects CPI to peak to 3.75% in June, which is much higher than its previous forecast of 2.75%.

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
BRN Brainchip Ltd 1.73 9% 39,304,195 $2,725,835,809
LTR Liontown Resources 1.455 6% 13,214,927 $3,003,557,776
NWS News Corp 33.38 6% 286,509 $1,391,587,195
AVZ AVZ Minerals Ltd 0.765 6% 19,381,528 $2,502,745,733
PBH Pointsbet Holdings 5.12 5% 2,310,336 $1,288,999,746
QAN Qantas Airways 5.17 4% 7,075,501 $9,335,921,255
CXO Core Lithium 0.78 4% 16,372,407 $1,269,671,437
VUK Virgin Money Uk PLC 3.81 4% 2,868,471 $3,189,427,973
AX1 Accent Group Ltd 2.07 4% 611,970 $1,083,733,430
S32 South32 Limited 4.11 3% 14,926,732 $18,506,724,397
EBO Ebos Group Ltd 37.46 3% 14,864 $6,848,898,362
PTM Platinum Asset 2.63 3% 2,159,505 $1,496,031,195
INR Ioneer Ltd 0.66 3% 5,498,055 $1,312,350,975
Z1P Zip Co Ltd. 3 3% 6,192,026 $1,713,509,512

Market darling Brainchip (ASX:BRN) was again leading the pack after rising by almost 7% on no news. On Tuesday, the US-based company announced it’s received an additional patent from the US patent office, bringing BRN’s total US patent suite to eight, along with one in China.

News Corporation (ASX:NWS)’s rose 5% as Q2 revenues increased by 13% to $2.72 billion, compared to $2.41 billion in the prior year. Revenues in the first half rose 15% year- over-year.

Liontown Resources (ASX:LTR) jumped after it reported after hours yesterday on the successful completion of its $12.9m share purchase plan (SPP).

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
BLD Boral Limited 3.81 -2% 9,204,443 $4,280,122,055
NUF Nufarm Limited 5.48 -2% 3,024,388 $2,123,962,509
KAR Karoon Energy Ltd 1.995 -2% 1,477,565 $1,134,992,536
ILU Iluka Resources 10.21 -3% 2,383,252 $4,435,160,544
SDR Siteminder 5.79 -3% 76,752 $1,616,988,416
DEG De Grey Mining 1.175 -3% 3,863,829 $1,701,772,465
ABC Adbri Limited 2.89 -3% 1,513,662 $1,951,356,389
ARB ARB Corporation. 44.33 -4% 418,703 $3,756,258,545
SEK Seek Limited 28.11 -5% 1,039,324 $10,419,410,394
TLX Telix Pharmaceutical 6.845 -5% 1,263,891 $2,211,929,170

Boral Ltd fell 40% after announcing trading ex-dividend and capital return.

Boral’s shareholders will receive a total cash distribution of $2.72 per share which totals $2.93bn, as well as unfranked dividends of 7c a share which totals $77m.