Closing Bell: ASX bows out lower on last day of 2024, its best year since 2021

The ASX slipped again on 2024’s final day. It was still the best year since 2021 for the local bourse, however.

The ASX had its best year since 2021. Picture via Getty Images

• ASX closes lower on last day of 2024

• Bitcoin wobbles, Aussie dollar weakens

• Mesoblast bucks trend with 10pc rise

It’s the last trading day of 2024, and the ASX has gone out with a whimper.

After a rough start on Tuesday, the ASX closed lower by 0.92% following Wall Street’s weak lead, with the so-called "Santa Rally" well and truly fading.

Higher oil and commodity prices overnight weren’t enough to lift the bourse, and nine out of 11 sectors ended up in the red today.

But all in all, the ASX has still had a decent year, up around 8% in 2024, marking its biggest gain since 2021.

Bitcoin, meanwhile, wobbled again, dipping below US$92,000 before clawing back some gains.

The Aussie dollar is also looking weak, and is poised to close out the year at its lowest level since October 2022 at US62.27 cents.

But as the curtain falls on this trading year, some equity strategists are already predicting that global markets will keep grinding higher in 2025, albeit with less flair.

“We anticipate a slow grind higher in the equity market in the near term,” said Justin White at T Rowe Price.

This is how the ASX looked on the last trading session of 2024:

Source: Market Index

Source: Market Index

Tech stocks fell, tracking losses on the Nasdaq, while gold stocks were under pressure after the price of bullion dropped.

Mesoblast (ASX:MSB) meanwhile was a bright spot for the day, climbing almost 10% on no specific news.

ASX SMALL CAP LEADERS

Today’s best performing small cap stocks:

Security	Description	Last	%	Volume	MktCap
X2M	X2M Connect Limited	0.030	43%	695,384	$7,915,755
PPY	Papyrus Australia	0.014	40%	36,446	$5,520,454
5EA	5Eadvanced	0.120	40%	1,899,640	$28,975,215
ASR	Asra Minerals Ltd	0.004	33%	171,737	$6,937,890
AMS	Atomos	0.009	29%	1,082,246	$8,505,129
AHN	Athena Resources	0.005	25%	2,000,000	$5,341,870
TAS	Tasman Resources Ltd	0.005	25%	200,000	$3,220,998
CVB	Curvebeam Ai Limited	0.135	23%	46,406	$35,262,460
MTM	MTM Critical Metals	0.275	22%	12,385,971	$91,486,975
ALV	Alvomin	0.050	22%	45,000	$4,803,514
TM1	Terra Metals Limited	0.028	22%	615,702	$9,136,081
AOK	Australian Oil.	0.003	20%	6,118,998	$2,504,457
C7A	Clara Resources	0.006	20%	200,231	$2,225,413
CHM	Chimeric Therapeutic	0.007	17%	1,521,871	$9,450,899
DOU	Douugh Limited	0.007	17%	255,174	$7,093,536
OSL	Oncosil Medical	0.007	17%	1,091,139	$27,639,481
STM	Sunstone Metals Ltd	0.007	17%	3,146,498	$30,899,422
AXE	Archer Materials	0.575	16%	1,439,325	$126,149,271
EGY	Energy Tech Ltd	0.036	16%	10,000	$13,833,665
RON	Roninresourcesltd	0.220	16%	70,290	$7,671,252
MRR	Minrex Resources Ltd	0.008	14%	125,000	$7,594,073

OncoSil Medical (ASX:OSL) has just randomised its first patient in the TRIPP-FFX trial at Royal Adelaide Hospital, marking a key step in testing its OncoSil device alongside FOLFIRINOX chemotherapy for pancreatic cancer. This takes the total number of global trial participants to 49. CEO Nigel Lange said the milestone is a big step forward in the company’s mission to improve treatment outcomes for pancreatic cancer patients.

ASX SMALL CAP LAGGARDS

Today’s worst performing small cap stocks:

Code	Name	Price	% Change	Volume	Market Cap
VML	Vital Metals Limited	0.002	-33%	545,000	$17,685,201
AVE	Avecho Biotech Ltd	0.003	-25%	1,945,141	$12,677,188
MRD	Mount Ridley Mines	0.003	-25%	136,918	$3,113,956
MRQ	Mrg Metals Limited	0.003	-25%	400,000	$10,906,075
TX3	Trinex Minerals Ltd	0.002	-25%	12,500	$3,657,305
AON	Apollo Minerals Ltd	0.012	-20%	1,663,312	$10,445,144
ECT	Env Clean Tech Ltd.	0.002	-20%	775	$7,929,526
TKM	Trek Metals Ltd	0.021	-19%	801,167	$13,523,194
MKL	Mighty Kingdom Ltd	0.009	-18%	2,428,525	$2,376,697
CRR	Critical Resources	0.005	-17%	392	$14,591,779
ENV	Enova Mining Limited	0.005	-17%	455,150	$5,909,576
ERA	Energy Resources	0.003	-17%	492,781	$1,216,188,722
LNR	Lanthanein Resources	0.003	-17%	75,000	$7,330,908
ICI	Icandy Interactive	0.018	-14%	562,130	$26,888,553
GTR	Gti Energy Ltd	0.003	-14%	1	$10,370,324
IXR	Ionic Rare Earths	0.006	-14%	6,548,995	$36,598,998
PXX	Polarx Limited	0.006	-14%	5,169	$16,628,507
VRC	Volt Resources Ltd	0.003	-14%	345,829	$14,746,338
LAT	Latitude 66 Limited	0.038	-14%	16,097	$6,309,631
NAE	New Age Exploration	0.004	-13%	325,000	$8,575,596
PAB	Patrys Limited	0.004	-13%	357,142	$8,229,789
ZEU	Zeus Resources Ltd	0.007	-13%	100,000	$5,125,385

IN CASE YOU MISSED IT

Live Verdure (ASX:LV1) has snapped up another 6% stake in Decidr.ai for $13.2 million, taking its total holding to a controlling 51%. This solidifies LV1’s position as a leader in AI-driven innovation, making it the majority owner of one of Australia’s most exciting AI technology platforms.

At Stockhead, we tell it like it is. While Live Verdure is a Stockhead advertiser, it did not sponsor this article.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Closing Bell: ASX bows out lower on last day of 2024, its best year since 2021