Market Close 24 Nov 21: ASX consolidates following recent gains

The Australian sharemarket see-sawed between modest gains and losses on a choppy trading day to eventually close lower. The benchmark ASX 200 index lost 11.2 points or 0.15 per cent to close at 7399.4. The Energy sector stood out as oil prices rose overnight despite the coordinated announcement by number of countries including the US and China to release strategic oil reserves to ease the supply concerns. Locally, Woodside (WPL) rose 1.6 per cent, Santos (STO) by 2.2 per cent and Beach Energy (BPT) closed 2.4 per cent higher. The Information Technology sector was the main weight today impacted by the concerns with rising bond yields.

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