In a bullish turn of events, the Australian stock market witnessed notable gains, with the S&P/ASX 200 gained 0.93% higher on Tuesday. The upswing was predominantly fueled by robust performances in the Information Technology, Healthcare, and Industrials sectors, propelling the index to a positive trajectory.
Highlights:
- The S&P/ASX 200 gained 0.93%, with Alumina Ltd (ASX:AWC) leading the charge, surging impressively by 7.97% to reach 0.98 points at the market close.
- Elders Ltd (ASX:ELD) also demonstrated strong momentum, adding 7.48% to conclude the session at 7.97 points.
- Resmed Inc DRC (ASX:RMD) experienced noteworthy gains, rising by 5.88% to reach 26.47 points in late trade.
- EML Payments Ltd (ASX:EML) was the primary underperformer, facing a decline of 2.47% and settling at 0.79 points.
- Market dynamics favored advancing stocks, outnumbering decliners by 621 to 486 on the Sydney Stock Exchange, with the S&P/ASX 200 VIX dropping by 3.52% to 11.07.
S&P/ASX 200 Gained 0.93% – Top Performers and Underperformers
- Leading the charge among top performers on the S&P/ASX 200 was Alumina Ltd (ASX:AWC), surging impressively by 7.97% or 0.07 points to reach 0.98 at the market close. Elders Ltd (ASX:ELD) also demonstrated strong momentum, adding 7.48% or 0.56 points, concluding the session at 7.97. Noteworthy gains were further evident in Resmed Inc DRC (ASX:RMD), rising by 5.88% or 1.47 points, reaching 26.47 in late trade.
- Conversely, the session saw EML Payments Ltd (ASX:EML) as the primary underperformer, experiencing a decline of 2.47% or 0.02 points, settling at 0.79 by the closing bell. Platinum Asset Management Ltd (ASX:PTM) followed suit with a 2.15% dip, shedding 0.03 points to end at 1.25. Tabcorp Holdings Ltd (ASX:TAH) also registered a decline, down by 1.91% or 0.02 points to 0.77.
- Market dynamics favored advancing stocks, outnumbering decliners by 621 to 486, while 352 remained unchanged on the Sydney Stock Exchange. The S&P/ASX 200 VIX, measuring implied volatility, experienced a 3.52% drop to 11.07.
- Commodities and Forex:
- In commodities trading, Gold Futures for February delivery edged up by 0.20%, or 4.15, reaching $2,037.65 per troy ounce. Crude oil for February delivery remained unchanged at $70.77 per barrel, while the March Brent oil contract posted a modest rise of 0.17%, or 0.13, reaching $76.25 per barrel.
- Currency markets displayed stability, with AUD/USD holding firm with a minimal 0.10% change at 0.67. Conversely, AUD/JPY experienced a 0.49% decrease, settling at 96.45. The US Dollar Index Futures saw a marginal uptick of 0.06%, reaching 101.99.
Read more: Nikkei 225 Rose 1.19%,as Japanese Stocks Surge on Sectoral Strength
Conclusion
In summary, the Australian stock market, notably the S&P/ASX 200, exhibited remarkable resilience and growth, with the S&P/ASX 200 gained 0.93%. The positive momentum was propelled by robust performances in key sectors, offering investors an optimistic outlook for the market’s trajectory.
