Key Points
- Australian stock market reached a new all-time high, as gains in the Industrials, Financials, and Consumer Staples sectors pushed the S&P/ASX 200 up 0.60%.
- Computershare Ltd. (ASX:CPU), Austal Ltd. (ASX:ASB), and SGH Ltd. (ASX:SGH) were among the top performers.
- Amotiv Ltd. (ASX:AOV), St Barbara Ltd. (ASX:SBM), and Perseus Mining Ltd. (ASX:PRU) were among the worst performers.
- Falling stocks outnumbered advancing ones, with 595 declining compared to 464 advanced, while 467 stocks remained unchanged. The S&P/ASX 200 VIX fell 2.58%.
Australian stocks closed higher on Wednesday, as gains in the Industrials, Financials, and Consumer Staples sectors pushed the S&P/ASX 200 up 0.60% or 51.30 to 8,535.30, reaching a new all-time high. Investor sentiment remained strong amid positive earnings and economic stability.
The session’s top performer was Computershare Ltd. (ASX:CPU), which surged 15.49%, gaining 5.57 AUD to close at 41.53, marking a record high for the stock. Austal Ltd. (ASX:ASB) also posted notable gains, climbing 3.47% or 0.13 to 3.88 AUD, reflecting increased demand in the shipbuilding sector. Meanwhile, SGH Ltd. (ASX:SGH) advanced 2.75% or 1.42 to 53.07 AUD, achieving a new record high on the back of strong business performance.
On the losing side, Amotiv Ltd. (ASX:AOV) fell 7.06% or 0.75 to 9.87 AUD, leading to the market’s declines due to weaker-than-expected earnings results. St Barbara Ltd. (ASX:SBM) dropped 7.27% or 0.02 to 0.26 AUD, reflecting pressure on gold mining stocks. Similarly, Perseus Mining Ltd. (ASX:PRU) declined 4.86% or 0.14 to 2.74 AUD, impacted by falling gold prices.
Despite the index’s gains, falling stocks outnumbered advancing ones on the Sydney Stock Exchange, with 595 declining stocks compared to 464 advancing, while 467 stocks remained unchanged. The S&P/ASX 200 VIX, a measure of implied volatility, fell 2.58% or 0.28 to 10.54, suggesting reduced market uncertainty.
In the commodities market, gold futures for April delivery declined 0.70% to $2,912.09 per ounce, while crude oil for March delivery slipped 0.40% to $73.03 per barrel. The April Brent oil contract also decreased 0.36% to $76.72 per barrel, reflecting global supply concerns.
AUD/USD remained stable in the currency market, rising 0.08% to 0.63, while AUD/JPY gained 0.66% to 96.62. Meanwhile, the US dollar index increased by 0.11% to 107.95, indicating a slight greenback strengthening.
