The ASX 200 lagged the Small Caps index in Thursday trade, dragged lower by what was a brutal session for the big miners.

Iron ore prices tanked back towards US$150/tonne overnight, and the big three miners all slumped by more than 5% in today’s session.

One day after dipping by 2.97%, the ASX 200 Materials index fell by more than 3% in what marked its worst session since May 1, 2020.

The big banks traded flat while the ASX 200 Consumer Discretionary sector outperformed, with a gain of more than 1.5%.

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
CNU Chorus Limited 6.89 14.1% 1,413,233 $2,700,030,299
CEN Contact Energy Ltd 7.85 8.4% 10,694 $1,760,664,837
ASM Ausstratmaterials 11.89 8.1% 1,107,117 $1,534,566,066
NWL Netwealth Group 15.355 7.8% 1,563,927 $3,471,749,850
PPK PPK Group Limited 17.74 7.8% 349,741 $1,465,792,513
SGR Star Entertainment 3.625 6.9% 6,151,711 $3,227,328,172
EML EML Payments Ltd 3.83 5.8% 7,095,964 $1,310,622,281
TLX Telix Pharmaceutical 6.87 5.7% 946,732 $1,830,552,152
IPH IPH Limited 8.715 5.4% 1,423,769 $1,796,275,972
BRG Breville Group Ltd 32.42 5.2% 542,206 $4,283,544,987
KGN Kogan.Com Ltd 12.45 4.8% 1,633,940 $1,265,951,368
APX Appen Limited 12.18 4.5% 1,767,408 $1,433,822,771
YAL Yancoal Aust Ltd 2.46 4.2% 107,702 $3,116,237,071
TPW Temple & Webster Ltd 12.66 4.2% 312,676 $1,463,503,075
HUB HUB24 Ltd 25.82 4.2% 155,036 $1,693,296,176
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Among stocks with news, New Zealand-based telco provider Chorus Ltd (ASX:CNU) led the way with a gain of around 14%.

The stock gained after getting some regulatory clarity from the New Zealand government around its public-private infrastructure project.

The Commerce Commission released a draft decision proposing an initial regulated asset base (RAB) of NZ$5.427 billion for CNU’s fibre business. In March, CNU had proposed a starting base of NZ$5.5bn.

“It’s critical that the true value of our participation in this partnership is recognised so we can keep investing in developing the capability and reliability of fibre broadband for New Zealand,” CEO JB Rousselot said.

Also rising was listed casino group Star Entertainment (ASX:SGR), following the release of its full-year results.

The company reported a $58m net profit and a $211m reduction in net debt, flagging particularly strong growth in the Queensland market.

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
CDA Codan Limited 16.24 -7.9% 1,751,846 $3,184,126,793
SGM Sims Limited 14.95 -7.3% 1,371,229 $3,248,135,654
MIN Mineral Resources. 52.11 -6.9% 2,142,490 $10,569,214,992
CRN Coronado Global Res 0.9625 -6.6% 4,192,130 $1,726,747,342
ZIM Zimplats Holding Ltd 22.95 -6.3% 1,866 $2,637,122,401
BHP BHP Group Limited 44.77 -6.1% 23,292,407 $140,517,111,494
FMG Fortescue Metals Grp 20.14 -6.1% 15,587,926 $66,043,797,491
IGO IGO Limited 8.94 -6.0% 7,439,284 $7,201,616,902
RIO Rio Tinto Limited 107.04 -5.8% 2,536,017 $42,203,571,370
SFR Sandfire Resources 6.16 -5.2% 1,046,732 $1,158,633,665
DRR Deterra 4.18 -5.2% 3,356,652 $2,330,698,794
ORG Origin Energy 4.19 -4.1% 11,276,954 $7,696,492,380
ORA Orora Limited 3.53 -3.6% 4,477,095 $3,206,254,366
BSL BlueScope Steel Ltd 24.33 -3.5% 1,992,852 $12,700,955,310
HMC Home Consortium 5.8 -3.2% 113,118 $1,737,826,485
GUD G.U.D. Holdings 10.91 -3.1% 252,259 $1,060,478,589
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Leading the laggards was communications, metal detection and mining services company Codan (ASX:CDA).

The stock is up by around 300% from its March 2020 pandemic lows but fell on the release of its full-year results today.

Codan announced record full year revenue and net profit results of $437m and $90.2m respectively, “with the record run rate of FY21 being maintained thus far in the new financial year”.

Among the other reporting season losers was Origin Energy (ASX:ORG), after write-downs contributed to a $2.29bn loss in what was a “challenging” year for the power sector, the company said.