ASX 200 Closed Higher By 0.79%; Lifted By Energy And Materials Sector

By the end of the trading session on 26 August 2022, the benchmark index S&P/ASX 200 ended higher by 0.79% and settled at 7,104.10. Out of 11 sectors, 10 sectors closed higher along with the ASX 200.

The Energy and Materials sectors were the top 2 gaining sectors, gained 1.32% and 1.06% in their index value. On the other hand, the Telecommunication Services sector was the only losing sector, declined 0.31% in its index value.

Bega Cheese Limited (ASX: BGA) and Viva Energy Group Limited (ASX: VEA) were the top gainers with 11.764% and 6.884% growth in share prices, respectively. On the other hand, Polynovo Limited (ASX: PNV) and Appen Limited (ASX: APX) were the top losers, with 18.812% and 5.583% drop in share prices, respectively.

Copyright © 2022 Kapitales Research

Top Performers for the day:

• Energy (Up 1.32%)
• Materials (Up 1.06%)

Top Loser for the day:                                    

• Telecommunication Services (Down 0.31%)

Other Factors influencing the market:

• Polynovo limited's shares dropped sharply following it has posted a net loss of $1.2 million as COVID-19 had a significant impact on elective surgery activity over the 12 months to June 30.
• Ramsay Health Care Ltd slumped to an over four-month low after KKR & Co-led consortium lowered its offer for the firm. The firm also reported a nearly 40% drop in its annual net profit.
• Bega Cheese Limited's share price gained after the company has reported a 45.2% increase in its revenue while a 69% decline in the profit after tax to $24.2 million as it battled COVID-19, rising costs, and supply chain disruptions.
• Oil prices recovered today and were set to end the week higher on signs of improving fuel demand, although further gains were capped as the market awaited clues from the U.S. Federal Reserve chairman on the outlook for rate hikes in a speech later in the day.
• Dow has closed up 0.3%, S&P 500 up by 0.6%, and NASDAQ closed higher by 1.1%.
• Hang Seng is up by 0.69%, and FTSE 100 is up by 0.11%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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 Enva Australia Pty Ltd (AFSL 424494). The information contained in this website 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, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au