Key Points
- S&P/ASX 200 Index rose 0.57% to a one-month high, driven by Utilities, Gold, and IT stocks.
- Appen Ltd. (ASX:APX), Mesoblast Ltd. (ASX:MSB), and Star Entertainment Group Ltd. (ASX:SGR) were among the top performers.
- Premier Investments Ltd. (ASX:PMV), Omni Bridgeway Ltd. (ASX:OBL), and St Barbara Ltd. (ASX:SBM) were among the worst performers.
- The market remained positive, with 652 stocks advancing, 447 declining, and 434 remaining unchanged. The S&P/ASX 200 Volatility Index dipped 1.18%.
Australian stocks closed higher on Wednesday, with the S&P/ASX 200 index rising 0.57% or 47.90 to reach 8,447.00, a new one-month high. Gains in the Utilities, Gold, and IT sectors helped propel the market upward.
Among the session’s top performers, Appen Ltd. (ASX:APX) surged 6.94% or 0.17 to close at 2.62 AUD, while Mesoblast Ltd. (ASX:MSB) rose 5.54% or 0.16 to end at 3.05 AUD. The Star Entertainment Group Ltd. (ASX:SGR) saw a significant gain of 13.04% or 0.015 to 0.13 AUD. Meanwhile, Bellevue Gold Ltd. (ASX:BGL) increased by 8.60% or 0.095 to 1.20 AUD.
However, Premier Investments Ltd. (ASX:PMV) saw a significant decline, dropping 20.65% or 5.90 to 22.67 AUD, reaching a 52-week low. Omni Bridgeway Ltd. (ASX:OBL) lost 7.94% or 0.11 to close at 1.28 AUD. St Barbara Ltd. (ASX:SBM) also fell 4.08% or 0.01 to 0.24 AUD, while Viva Energy Group Ltd. (ASX:VEA) declined 2.66% or 0.07 to 2.56 AUD.
Market breadth remained positive, with 652 stocks advancing, 447 declining, and 434 remaining unchanged on the Sydney Stock Exchange. The S&P/ASX 200 Volatility Index (VIX), which measures market sentiment, dipped 1.18% or 0.13 to 10.84, indicating a relatively stable market outlook.
In the commodities market, gold futures for April delivery increased 0.09% to $2,797.24 per troy ounce. Meanwhile, crude oil for March delivery fell 0.19% to $73.63 per barrel, and Brent oil for April delivery declined 0.26% to $76.29 per barrel.
The AUD/USD pair was relatively stable in currency trading, changing just 0.10% to 0.62. However, the AUD/JPY pair declined 0.38% to 96.85. The U.S. Dollar Index Futures fell slightly by 0.06% to 107.61, reflecting minor weakness in the greenback.
The Australian market benefited from strong sectoral performance, particularly in gold and IT, but certain stocks faced notable declines. Investors will continue to monitor global economic trends and commodity price movements for further direction.