Australian S&P/ASX 200 Gains as IT, Utilities, and Telecom Sectors Lead Rally

S&P/ASX 200 Reach New All-Time Highs Driven by Financials and Healthcare Sectors

Key Points

  • S&P/ASX 200 index rose by 0.56%, driven by IT, Utilities, and Telecom Services gains.
  • Westgold Resources Ltd. (ASX: WGX), Cleanaway Waste Management Ltd. (ASX: CWY), and APA Group (ASX: APA) were among the top performers.
  • Mineral Resources Ltd. (ASX: MIN), Nuix Ltd. (ASX: NXL), and Pointsbet Holdings Ltd. (ASX: PBH) were among the worst performers.
  • 613 stocks fell, while 474 advanced and 385 remained unchanged.
  • Regarding market volatility, the S&P/ASX 200 VIX declined by 3.77%.

Australia’s stock market closed higher on Monday, with strong performances in the IT, Utilities, and Telecom Services sectors helping to buoy the S&P/ASX 200 index. By the end of the session in Sydney, the S&P/ASX 200 index posted a gain of 0.56% or 45.80 to 8,164.60, signaling overall positive investor sentiment.

Among the standout performers were Westgold Resources Ltd. (ASX: WGX), Cleanaway Waste Management Ltd. (ASX: CWY), and APA Group (ASX: APA). Westgold Resources led the gains, rising 3.23% or 0.10 points to close at 3.20 AUD per share. Cleanaway Waste Management saw an increase of 2.96% or 0.08 points to end at 2.78 AUD, while APA Group gained 2.79% or 0.19 points, reaching 6.99 AUD in late trade.

However, not all sectors experienced an upward trend. The biggest laggard of the day was Mineral Resources Ltd. (ASX: MIN), which saw a significant decline of 9.63% or 3.91 points, closing at 36.70 AUD. Other notable underperformers included Nuix Ltd. (ASX: NXL), which dropped 3.58% or 0.27 points to finish at 7.28 AUD, and Pointsbet Holdings Ltd. (ASX: PBH), which decreased by 3.49% or 0.03 points, ending the day at 0.83 AUD.

Overall, the Sydney Stock Exchange saw a slightly bearish tilt in the number of declining stocks compared to advancing ones; 613 stocks fell, while 474 advanced and 385 remained unchanged. Regarding market volatility, the S&P/ASX 200 VIX—an index that tracks implied volatility for ASX 200 options—declined by 3.77% or 0.52, settling at 13.31, indicating a relatively stable market sentiment.

Commodities saw slight fluctuations. Gold futures for December delivery increased by 0.03%, gaining 0.75 points to trade at $2,749.95 per troy ounce. Crude oil for December delivery experienced a significant rise of 1.81% or 1.26 points, reaching $70.75 per barrel, while the January Brent oil contract rose 1.68% or 1.23 points to trade at $74.33 per barrel.

In the forex market, the Australian dollar (AUD) remained steady against the U.S. dollar (USD), showing no movement and holding at 0.66 USD. However, the AUD/JPY pairing declined by 0.39%, dropping to 100.31. The U.S. Dollar Index Futures, which tracks the USD against a basket of six major currencies, dipped by 0.53% to 103.65, signaling a modest decrease in dollar strength.

EDITORIAL TEAM
EDITORIAL TEAM
TechGolly editorial team led by Al Mahmud Al Mamun. He worked as an Editor-in-Chief at a world-leading professional research Magazine. Rasel Hossain and Enamul Kabir are supporting as Managing Editor. Our team is intercorporate with technologists, researchers, and technology writers. We have substantial knowledge and background in Information Technology (IT), Artificial Intelligence (AI), and Embedded Technology.

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