Here are the top ASX large cap movers for Thursday

There was broad based selloff across ASX blue chips today, with all 11 sectors falling into the red.

The benchmark ASX 200 index ended up lower by 1.9% as it sank further from the mid session loss of 1%.

It was one of the biggest drops for the ASX this year, matching its one-day loss of 1.9% in February.

The downward move today followed action on Wall Street overnight, where the US stock markets fell on concerns about the soft US jobs data and coronavirus spread around the world.

 

BIG CAP LOSERS

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ASX resources and commodities plays were weighed down by softer commodities prices overnight, where iron price fell by 3.5% on China’s demand concerns.

Giant miners like Rio Tinto (ASX:RIO) and BHP (ASX:BHP) both fell by around 2%.

The big banks were also being sold off by investors, with the Big Four trading lower by around 2%.

The Tech sector went deep in the red and lost almost 3%, with broad selling across major names.

Xero (ASX:XRO) was the hardest hit tech stock, down by 4% with Afterpay (ASX:APT) also dragging the index down and falling by 3%.

In the Communications sector, REA Group (ASX:REA) fell by 3% while Telstra (ASX:TLS) fell by 2.4% – both on no news.

BIG CAP WINNERS

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Stocks that rose today include Novonix (ASX:NVX) (not in the ASX 200), which climbed 3%.  The NVZ stock price has been rising by 12% this week after being admitted into the ASX 300 index.

Resmed (ASX:RMD) was up 3% on no news. Last Friday, Resmed was included in the ASX 50 index as part of the quarterly rebalance which will take effect on September 20.

 

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