The Swiss market experienced a slight decline in early trading on Monday and continued to fluctuate until about two hours past noon. By the end of the trading day, it settled with moderate losses, primarily due to significant selling in certain sectors.
Throughout the session, investor sentiment was cautious as they awaited the upcoming U.S. Presidential Election and the Federal Reserve's policy announcement scheduled for later in the week.
The Swiss Market Index (SMI) concluded the day down by 70.26 points, or 0.59%, closing at 11,896.94, which was the day's lowest point. During the day, the index reached a high of 11,983.26.
The VAT Group saw a decline of 1.65%, while Swiss Re, Richemont, Lonza Group, Nestle, Alcon, and Partners Group all fell within a range of 1% to 1.4%.
Meanwhile, Givaudan, Lindt & Sprüngli, UBS Group, Kuehne + Nagel, Zurich Insurance, and Sonova recorded losses between 0.5% and 0.82%.
On the positive side, Straumann Holding rose by approximately 1.3%, while Schindler Ps and Sandoz Group posted gains of 0.71% and 0.62%, respectively.
