Australia Market extends gain | Capital Market News - Business Standard
Business Standard

Australia Market extends gain

Image

Australia stock market finished session higher on Friday, 10 May 2024, extending yesterday gains, as risk sentiments bolstered by mirroring a rosy Wall Street session overnight on renewed bets for U.S. interest rate cuts later this year following softer-than-expected jobs growth in April. Most of ASX sectors advanced, with banking and energy stocks leading the charge.
At closing bell, the benchmark S&P/ASX200 index advanced by 27.36 points, or 0.35%, to 7,749. The broader All Ordinaries index was up 28.48 points, or 0.36%, to 8,022.70.
Total 7 of 11 sectors ended higher along with the S&P/ASX 200 Index. Energy was the best performing sector, gaining +1.87%, followed by financial (up 0.69%), telecommunications (up 0.65%), and healthcare (up 0.41%), while industrial sector was bottom performer, down 0.14%.
The best-performing stocks in S&P/ASX200 index were HELIA GROUP and BEACH ENERGY, up 5.95% and 4.00% respectively. The bottom performing stocks in S&P/ASX200 index were PERPETUAL and DOMAIN HOLDINGS, down 7.08% and 3.67% respectively.
Shares of banks and financials advanced, with the "Big Four" banks closing up between 0.4% and 1.3%.
Energy stocks advanced as oil prices rose amid recent positive signs of economic recovery in China. Sector majors Woodside and Santos climbed 1.9% and 2.1% respectively.
Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 10 2024 | 3:16 PM IST

Explore News