ASX 200 buyers stepped in at the opening bell after four straight losing sessions, but by the close of trade the index had edged into negative territory as the mining selloff continues.

The ASX 200 Materials index followed yesterday’s 3.68% fall — its largest drop since May 2020 — by losing another 0.8% to finish sharply lower for the week.

The large consumer sectors — consumer staples and consumer discretionary — continued to outperform amid falls in the major sectors, as the ASX 200 Financials index also lagged with a 0.19% drop.

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
RBL Redbubble Limited 4.24 16% 14,924,317 $995,977,612
WSA Western Areas Ltd 3.00 7% 11,200,199 $900,600,834
LOV Lovisa Holdings Ltd 16.47 5% 288,761 $1,681,743,460
TWE Treasury Wine Estate 13.15 5% 2,958,162 $9,023,102,200
MAF MA Financial Group 6.81 5% 191,842 $1,007,160,934
HDN Homeco Daily Needs 1.545 5% 2,837,814 $1,085,319,129
ING Inghams Group 4.09 5% 4,464,252 $1,453,267,240
KGN Kogan.Com Ltd 12.97 4% 2,275,884 $1,329,888,306
CWY Cleanaway Waste Ltd 2.66 4% 9,801,323 $5,272,387,392
ORG Origin Energy 4.34 4% 7,224,879 $7,379,474,387
ASX ASX Limited 85.95 3% 599,441 $16,171,003,882
NSR National Storage 2.315 3% 2,331,669 $2,661,907,635
IPH IPH Limited 8.97 3% 1,113,500 $1,896,189,750
AMC Amcor PLC 17.46 3% 2,889,783 $14,108,596,990
TPW Temple & Webster Ltd 13.04 3% 519,938 $1,529,752,186
AIA Auckland Internation 6.85 2% 695,940 $9,851,367,107
GMG Goodman Group 23.06 2% 3,139,761 $41,622,581,115
SHV Select Harvests 8.04 2% 293,565 $944,963,548
PPH Pushpay Holdings Ltd 1.575 2% 417,712 $1,700,617,782
CKF Collins Foods Ltd 11.89 2% 525,214 $1,358,342,720
IFT Infratil Limited 7.18 2% 27,793 $5,090,727,582

Gains were led by ecommerce company Redbubble (ASX:RBL), which became a large cap in the post-COVID online sales surge after its share price rose from 50c to above $7.

It subsequently fell back to almost $3, but closed at $4.24 today following two straight double-digit returns around the release of yesterday’s full-year results.

The company also announced today that San Francisco-based investment management firm Osmium Partners had become a substantial shareholder in the business.

WA-based nickel play Western Areas (ASX:WSA) also rose strongly, as markets deduced that it may become the subject of a bidding war after it advised that Wyloo Metals — a company owned by Twiggy Forrest — had built a 5.28% stake in the company.

The news came one day after WSA confirmed it was in preliminary discussions with IGO Ltd on a potential takeover bid.

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
YAL Yancoal Aust Ltd 2.16 -12.2% 140,943 $3,248,281,015
VUL Vulcan Energy 12.15 -8.0% 1,276,326 $1,435,620,292
COH Cochlear Limited 237.55 -7.2% 277,160 $16,836,400,935
LYC Lynas Rare Earths 6.33 -6.9% 10,865,298 $6,127,334,337
ZIM Zimplats Holding Ltd 21.6 -5.9% 4,570 $2,470,284,045
ORE Orocobre Limited 8.65 -5.8% 2,983,668 $3,161,185,528
NVX Novonix Limited 3.66 -5.7% 3,980,875 $1,569,853,370
PLS Pilbara Min Ltd 2.02 -5.6% 29,952,340 $6,280,513,086
LTR Liontown Resources 0.845 -5.6% 11,023,359 $1,704,993,944
CUV Clinuvel Pharmaceut. 27.43 -4.6% 76,063 $1,420,053,114
NIC Nickel Mines Limited 0.965 -4.5% 16,681,173 $2,540,179,342
OCL Objective Corp 19.1 -4.5% 82,302 $1,884,139,879
AX1 Accent Group Ltd 2.16 -4.4% 2,645,598 $1,224,618,776
JLG Johns Lyng Group 6.18 -4.3% 677,036 $1,449,628,923

Among the laggards, medical device giant Cochlear (ASX:COH) was the only stock with news.

The company announced record sales of $1.4bn at its full-year results, with net profit increasing by 54% to $237 million.

It also hiked its full-year dividend by 59% to $2.55 per share, but investors sent the stock more than 7% lower in Friday trade.

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