Australia Market ends tad higher
Mar 27, 2023 04:27 PM | Source: capitalmarket.com
Australia stock market finished session marginally higher on Monday, 27 March 2023, as gains in gold miners and technology stocks partially offset by losses in energy stocks.
At closing bell, the benchmark S&P/ASX200 index advanced 6.75 points, or 0.1%, to 6,961.98. The broader All Ordinaries index increased 6.25 points, or 0.09%, to 7,143.84.
The top performing stocks in the S&P/ASX 200 Index were BRAINCHIP HOLDINGS and TELIX PHARMACEUTICALS, up 4.60% and 3.23% respectively. The bottom performing stocks in S&P/ASX200 index were LAKE RESOURCES and NOVONIX, down 13.54% and 3.91% respectively.
Total 8 of 11 sectors ended higher along with the S&P/ASX 200 Index. Utilities was the best performing sector, gaining +2.16%, followed by A-REIT (up 1%), healthcare (up 0.73%), telecommunication services (up 0.7%), and consumer staples (up 0.7%) sectors. Energy was bottom performing sector, falling 2.3%.
Shares of utilities advanced the most among ASX sectoral peers. AGL and Origin Energy gained 3.4% and 3.3% respectively.
Banks and financials closed tad up even after ANZ's chief executive warned there was "potential" for a financial crisis. National Australia Bank (up 0.9%) and Westpac (up 0.1%) rebounded. Bank of Queensland lifted 0.2% after it appointed a new chief executive, Patrick Allaway.
Among individual shares, Ampol dropped 1.2% after warning that an outage at its Lytton refining operations could hit its earnings by between $30-50 million, depending on market conditions.
Tyro Payments firmed 2.1% after confirming it is still in talks with Potentia about a possible change of control transaction.
Hotel operator Endeavour Group (up 3.3%) traded higher after the Labor Party was elected in NSW on a platform of policies less onerous than those of the Coalition on gaming reform.