The GovCon Index held in negative territory throughout Wednesday and closed at a loss of 0.621 points to 77.761 as U.S. markets continued to be weighed down by oil price declines in both of the commodity’s major benchmarks.
On a year-to-date basis, the Index remains above the 10-percent mark for a gain against declines in several sectors within the S&P 500 composite index, of which 11 GovCon Index companies are also listed in.
Falls Church, Va.-based technology contractor CSRA (NYSE: CSRA) was the Index’s leading gainer for a second consecutive day at 26 cents — or 0.88 percent to $29.85 and the company’s stock has recorded gains in four consecutive trading sessions.
CSRA ended Wednesday as the fourth-highest percentage gainer in the S&P 500 a day after the company led the Index in positive movement.
Crude futures in New York settled down 3.06 percent to $36.71 a barrel after the American Petroleum Institute said the country’s oil inventory grew another 2.9 million barrels and brent crude in London fell 3.18 percent to $36.59 a barrel.
Energy shares fell nearly 1.5 percent and material stocks also declined in afternoon trade, CNBC reported.
GovCon Index Gainers
|Symbol||Company||$ Current Price||Net Change||% Change|
|LLL||L-3 Communications *||120.94||+0.22||+0.18%|
* Also listed in the S&P 500 index
|Index||Value||Net Change||% Change|
|S&P 500||2, 063.36||-15.00||-0.72%|
|Dow Jones Industrial Average||17, 603.87||-117.11||-0.66%|