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Date : 08/01/2021

ASX 200 down as healthcare sector declined by 2.20%

ASX 200 Ended in Red

On January 6 2021, the ASX 200 ended in red as there was a drop of of 2.2% and 2.21%

to the healthcare and technology sector, respectively. The broader ASX 200 index lagged as the US Senate was left hanging due to the Georgia Senate run-off.

While we do like healthcare stocks and technology stocks on the long term, the ASX healthcare index declined 2.2% and the ASX technology index declined by 2.21% on the 6th of January 2021. You can have a look at our top picks in the two sectors – ‘ASX healthcare stocks’ and ‘top ASX tech stocks’.

Who Were the Gainers and Losers?

The biggest loser on the day was Healthcare giant Nanosonics Limited. The stock saw a 7.1% decline as traders and investors added selling pressure on the ASX healthcare stocks.

The biggest gainer on the 6th of January 2021 was Oil Search with a surge of 5.7%. The Energy sector was the best performing index on the day as the potential return of economic activity has added tailwinds into the energy space and oil and gas stocks are benefitting.

Conclusion

While there are plenty of reasons as to why stocks may be set to gain or lose on any particular trading day, it is extremely critical to make an investment decision based on how stock and sectors perform on the back of headwinds and tailwinds coming in from macro economic factors. At Shares in Value, we construct our portfolios based on extensive research going into macroeconomics and the sectoral outlook that encapsulate the individual stocks.

 

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