Australian Stock Market Ended on a Positive Note, Led by the Resource and Mining Sectors

Australian Stocks Rise Led by IT and Consumer Discretionary Sectors

Key Points:

  • Australian stock market ended higher, S&P/ASX 200 index saw a 0.36% gain, driven by gains in the Resources, Metals & Mining, and Materials sectors.
  • Nickel Mines Ltd (ASX:NIC), Perenti Global Ltd (ASX:PRN), and Cromwell Property Group (ASX:CMW) were among the session’s top performers.
  • Appen Ltd (ASX:APX), Polynovo Ltd (ASX:PNV), and Omni Bridgeway Ltd (ASX:OBL) were among the session’s worst performers.
  • More stocks rose than fell on the Sydney Stock Exchange, with the S&P/ASX 200 VIX experiencing a 5.03% decrease and reaching a new one-month low.

Australian stock market closed higher on Tuesday, with gains primarily driven by the Resources, Metals & Mining, and Materials sectors. The S&P/ASX 200 index in Sydney ended the day with a 0.36% gain.

Among the top performers on the S&P/ASX 200 were Nickel Mines Ltd (ASX:NIC), which surged by 8.11% or 0.06 points to reach 0.80 at the close. Perenti Global Ltd (ASX:PRN) also experienced notable gains, rising by 6.49% or 0.06 points to finish at 0.98, while Cromwell Property Group (ASX:CMW) climbed by 4.65% or 0.02 points to 0.45 by the end of trading.

Conversely, some stocks faced declines during the session. Appen Ltd (ASX:APX) dropped by 9.52% or 0.08 points to trade at 0.76 by the close, while Polynovo Ltd (ASX:PNV) declined by 6.81% or 0.16 points, settling at 2.19. Omni Bridgeway Ltd (ASX:OBL) also saw a decrease of 4.26% or 0.06 points, ending the day at 1.35.

Rising stocks outnumbered declining ones on the Sydney Stock Exchange, with 572 stocks advancing, 559 declining, and 345 remaining unchanged. The S&P/ASX 200 VIX, which gauges the implied volatility of S&P/ASX 200 options, experienced a decrease of 5.03% to 10.77, marking a new 1-month low.

In commodities trading, Gold Futures for April delivery saw a slight decline of 0.13% or 2.85, reaching $2,161.45 per troy ounce. Crude oil for delivery in May fell by 0.19% or 0.16 to hit $82.00 a barrel, while the May Brent oil contract dropped by 0.23% or 0.20, trading at $86.69 per barrel.

The AUD/USD remained unchanged at 0.65, while AUD/JPY rose by 0.19% to 98.03. Meanwhile, the US Dollar Index Futures increased by 0.17% to 103.41, indicating some strength in the US dollar against a basket of major currencies.

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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