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ASX large caps: Mining stocks slump while Brainchip, Zip Co lead tech selloff

ASX large caps roundup for Friday 21 January 2022. Pic: Getty

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After falling more than 1% at the mid way session, the ASX 200 lost more ground in afternoon trading and closed 2.27% down.

For the week, the local index down almost 3%, one of its worst weekly drops in a year.

The Mining index lost all of yesterday’s gain and more, down by almost 4 % as all eleven sectors fell into the red.

Energy also reversed its previous day’s gains, also falling by more than 3%.

Risk off sentiment has been the underlying theme of the week as the 10-year US yield trades at its highest level in two years with traders making hawkish rate bets.

In Australia, a 4.2% jobless print that saw the rate falling to its lowest level since 2008 has also made investors nervous about a potential RBA hike.

The RBA will convene for its first meeting of the year on February 1st, and analysts predict a rate hike announcement then.

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
SNZ Summerset Grp Hldgs 11.71 4.7% 3,447 $2,573,807,792
RMS Ramelius Resources 1.595 2.9% 4,471,107 $1,344,446,919
HDN Homeco Daily Needs 1.39 2.6% 4,418,466 $1,076,671,080
AVN Aventus Group 3.28 2.2% 1,715,138 $1,834,087,688
BLD Boral Limited 5.85 1.9% 1,156,150 $6,331,727,525
GOR Gold Road Res Ltd 1.535 1.7% 3,552,964 $1,331,696,053
NST Northern Star 9.84 1.1% 6,876,954 $11,331,666,966
SLR Silver Lake Resource 1.865 1.1% 2,889,675 $1,633,683,285
MTS Metcash Limited 4.16 1.0% 3,330,452 $3,978,031,400
UMG United Malt Group 4.31 0.9% 995,274 $1,277,494,906
CQE Charter Hall Soc In 3.81 0.8% 619,343 $1,376,487,102
GOLD ETFS GOLD 238.45 0.7% 16,060 $1,336,770,336
SPK Spark New Zealand 4.23 0.5% 1,234,346 $7,870,272,767
COF Centuria Office REIT 2.23 0.5% 675,496 $1,322,325,944
PSI Psc Insurance Ltd 4.75 0.4% 23,039 $1,549,715,404

Large cap winners were few and far between on Friday, with few stocks escaping the sea of red.

Summerset Group (ASX:SNZ) was the biggest mover today, up by 4.7% on no news.

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
BRN Brainchip Ltd 1.755 -11.6% 68,813,475 $3,403,008,856
SYR Syrah Resources 1.875 -10.7% 6,924,217 $1,047,342,918
PDN Paladin Energy Ltd 0.775 -10.4% 30,578,935 $2,317,283,954
INR Ioneer Ltd 0.74 -8.6% 10,782,520 $1,660,944,203
SYA Sayona Mining Ltd 0.1325 -8.6% 31,145,297 $1,022,526,446
AEF Australian Ethical 9.98 -7.9% 335,822 $1,218,276,576
LYC Lynas Rare Earths 10.32 -7.5% 7,403,024 $10,070,912,943
CRN Coronado Global Res 1.4025 -7.4% 4,014,710 $2,539,827,401
Z1P Zip Co Ltd. 3.35 -7.2% 11,940,459 $2,125,693,931
AVZ AVZ Minerals Ltd 0.7425 -7.2% 29,051,371 $2,761,650,464
CXO Core Lithium 0.85 -7.1% 26,112,056 $1,532,155,438
IMU Imugene Limited 0.335 -6.9% 39,943,523 $2,089,431,306
SFR Sandfire Resources 6.86 -6.9% 2,438,646 $3,021,566,551
CHN Chalice Mining Ltd 8.2 -6.7% 2,220,702 $3,120,216,836
CUV Clinuvel Pharmaceut. 23.68 -6.6% 298,908 $1,252,552,068

BHP (ASX:BHP) was caught in the broad-brushed selloff today and fell almost 5%. But the company did announce the completion of it shareholder vote on its unification.

BHP shareholders have now formally approved the unification, with an overwhelming 97% votes in favour of the resolution.

After rising by 160% this past month, Brainchip (ASX:BRN) has finally fallen off its perch, down by 11% today on no news.

BNPL play Zip Co (ASX:Z1P) also fell 7% on no specific news, following record quarterly revenues of $167.4m announced yesterday.

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