Australian stocks surged higher on Wednesday, with the S&P/ASX 200 hitting a new all-time high, driven by gains in the A-REITs, Utilities, and Energy sectors. The S&P/ASX 200 index rose by 1.06%, signaling bullish sentiment in the market.
Among the top performers of the session were Nickel Mines Ltd (ASX: NIC), which soared by 8.97%, followed by Tabcorp Holdings Ltd (ASX: TAH) and Champion Iron Ltd (ASX: CIA), which gained 5.92% and 5.04%, respectively. Conversely, Appen Ltd (ASX: APX) experienced a decline of 5.88%, with Perenti Global Ltd (ASX: PRN) and Domino’S Pizza Enterprises Ltd (ASX: DMP) also registering losses of 4.68% and 3.45%, respectively.
Rising stocks outnumbered falling ones on the Sydney Stock Exchange, with 599 stocks advancing, 543 declining, and 372 remaining unchanged.
Shares in Perenti Global Ltd (ASX: PRN) hit a 52-week low, dropping by 4.68% during the session. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, declined by 2.05% to 11.12, indicating a decrease in market volatility.
In commodities trading, Gold Futures for April delivery saw a marginal increase of 0.03% to $2,051.50 a troy ounce. Meanwhile, Crude oil for delivery in March and the April Brent oil contract experienced slight declines, falling by 0.42% and 0.44%, respectively.
The AUD/USD pair remained unchanged at 0.66 in forex markets, while the AUD/JPY pair fell by 0.49% to 96.98. The US Dollar Index Futures rose by 0.20% to 103.42.
The Australian stock market exhibited strong performance, reaching new highs fueled by gains in specific sectors. Investor sentiment remained positive, supported by the bullish trajectory of key stocks despite some notable declines in others.
