Australian Stocks Close Higher as Gold and Financial Sectors Surge

Australian Stocks Close Lower, Led by Declines in Consumer Sectors

Key Points:

  • Australian stocks rallied, driven by gains in the Gold, Financials, and Consumer Discretionary sectors. The S&P/ASX 200 index rose 1.12% in Sydney.
  • Webjet Ltd (ASX:WEB) and Zip Co Ltd (ASX:ZIP) were among the top performers, reaching significant highs during the trading session.
  • Appen Ltd (ASX:APX), IGO Ltd (ASX:IGO), and Spark New Zealand Ltd (ASX:SPK) witnessed declines.
  • Rising stocks outnumbered declining ones by 781 to 446, while 335 stocks ended unchanged. The S&P/ASX 200 VIX rose by 9.58% to 11.37.

After the market close on Thursday, Australian stocks saw a significant uptick, with the Gold, Financials, and Consumer Discretionary sectors leading the gains. The S&P/ASX 200 index rose 1.12% in Sydney, reflecting positive investor sentiment.

Among the top performers on the S&P/ASX 200, Webjet Ltd (ASX:WEB) stood out, surging by 9.17% to 8.69 points. Zip Co Ltd (ASX:ZIP) also experienced substantial gains, adding 8.36% to close at 1.49 points, while Resolute Mining Ltd (ASX:RSG) rose by 8.11% to 0.40 points in late trade.

Conversely, some stocks witnessed declines, with Appen Ltd (ASX:APX) dropping by 9.70% to 0.60 points, IGO Ltd (ASX:IGO) declining by 3.30% to 7.33 points, and Spark New Zealand Ltd (ASX:SPK) down by 3.67% to 4.46 points.

The Sydney Stock Exchange saw a positive market breadth, with rising stocks outnumbering declining ones by 781 to 446, while 335 stocks ended unchanged. Webjet Ltd (ASX:WEB) reached a three-year high, while Zip Co Ltd (ASX:ZIP) achieved a 52-week high during the trading session. The S&P/ASX 200 VIX, which measures market volatility, rose by 9.58% to 11.37, reflecting increased volatility in the market.

In commodities trading, Gold Futures for April delivery surged by 2.02% to $2,204.70 per troy ounce. Crude oil for delivery in May also saw gains, rising by 0.63% to $81.78 per barrel, while the May Brent oil contract increased by 0.67% to $86.53 per barrel.

The Australian dollar remained relatively stable, with AUD/USD unchanged at 0.66, while AUD/JPY rose by 0.26% to 99.89. Meanwhile, the US Dollar Index Futures experienced a slight decline of 0.11% to 102.93.

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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