ASX 200 bounced back; IT sector was the top gainer
By the end of the day’s trade, benchmark index ASX 200 closed up, gaining 1.042% in the index value and settled at 7053. All 11 sectors ended higher along with the S&P/ASX 200 Index. S&P/ASX 200 Information Technology sector was the top gainer with a 3.19% growth in the index value. The index has rebounded from its recent declines. However, it has been off -5.91% for the past five days.
Mesoblast Limited (ASX: MSB) and Paladin Energy Ltd (ASX: PDN) were the top gainers on ASX with 16.990% and 10.000% growth in their share price, respectively. On the other hand, Nickel Mines Limited and Boral Limited (ASX: BLD) are the top losers with a 4.746% and 3.265% drop in the share prices.
Gold Futures has surged significantly and has reached near US$2060 an ounce. It seems that the investors prefer this asset to safeguard themselves against inflation and the uncertainty posed due to the ongoing war between Russia and Ukraine. Gold Road Resources Limited (ASX: GOR) was amongst the top five gainers on ASX today.
Besides this, London Metal Exchange announced that the nickel market would not open before 11 March 2022. The decision came after there was significant growth in nickel prices the previous day in Europe. The prices reached over US$100K a tonne.
Crude oil prices moved up because of US Russian oil ban. Thus, prompting supply fears.
Top 5 Gainers and Losers:
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ASX 200 bounced back; IT sector was the top gainer
By the end of the day’s trade, benchmark index ASX 200 closed up, gaining 1.042% in the index value and settled at 7053. All 11 sectors ended higher along with the S&P/ASX 200 Index. S&P/ASX 200 Information Technology sector was the top gainer with a 3.19% growth in the index value. The index has rebounded from its recent declines. However, it has been off -5.91% for the past five days.
Mesoblast Limited (ASX: MSB) and Paladin Energy Ltd (ASX: PDN) were the top gainers on ASX with 16.990% and 10.000% growth in their share price, respectively. On the other hand, Nickel Mines Limited and Boral Limited (ASX: BLD) are the top losers with a 4.746% and 3.265% drop in the share prices.
Gold Futures has surged significantly and has reached near US$2060 an ounce. It seems that the investors prefer this asset to safeguard themselves against inflation and the uncertainty posed due to the ongoing war between Russia and Ukraine. Gold Road Resources Limited (ASX: GOR) was amongst the top five gainers on ASX today.
Besides this, London Metal Exchange announced that the nickel market would not open before 11 March 2022. The decision came after there was significant growth in nickel prices the previous day in Europe. The prices reached over US$100K a tonne.
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Top Performers for the day:
Factors influencing the market:
Top 5 Gainers and Losers:
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Suite 1A, Level 2, 802-808 Pacific Highway, Gordon NSW 2072, Australia | 1800 005 780 | info@kapitales.com.au.au