Australian Stocks Rise Driven by IT, A-REITs, and Telecom Sectors

Australian Stocks Edge Higher, Led by Gains in Gold and IT Sectors

Key Points:

  • Australian stocks closed higher, driven by gains in the IT, A-REITs, and Telecoms Services sectors. The S&P/ASX 200 index surged by 0.81%.
  • Mesoblast Ltd (ASX:MSB), Star Entertainment Group Ltd (ASX:SGR), and Zip Co Ltd (ASX:ZIP) were among the top performers.
  • Appen Ltd (ASX:APX), Nuix Ltd (ASX:NXL), and Ltd (ASX:KGN) were among the worst performers.
  • 711 stocks advanced, 459 declined, and 474 remained unchanged. The S&P/ASX 200 VIX decreased by 2.04%.

Australian stocks closed higher on Monday, propelled by notable gains in the IT, A-REITs, and Telecoms Services sectors. At the close in Sydney, the S&P/ASX 200 index surged by 0.81% or 61.50 to 7,637.40, reflecting a positive market sentiment.

Mesoblast Ltd (ASX:MSB) emerged as a standout performer on the S&P/ASX 200, demonstrating a significant increase of 16.67% or 0.16 points, reaching 1.08 by the end of the session. Star Entertainment Group Ltd (ASX:SGR) also saw a substantial rise of 6.41% or 0.025 points, closing at 0.42, while Zip Co Ltd (ASX:ZIP) experienced a gain of 6.93% or 0.08 points, settling at 1.24 in late trade.

Conversely, Appen Ltd (ASX:APX) emerged as one of the worst performers, witnessing a decline of 3.79% or 0.025 points, concluding at 0.64. Following suit, Nuix Ltd (ASX:NXL) fell by 3.32% or 0.07 points, reaching 2.04, while Ltd (ASX:KGN) experienced a decrease of 2.56% or 0.13 points, closing at 4.94.

The Sydney Stock Exchange saw more rising stocks than declining ones, with 711 stocks advancing, 459 declining, and 474 remaining unchanged. The S&P/ASX 200 VIX, indicating the implied volatility of S&P/ASX 200 options, decreased by 2.04% or 0.25 to 12.11.

In commodities trading, Gold Futures for June delivery experienced a slight dip of 0.23% or 5.40, trading at $2,341.80 a troy ounce. Crude oil for delivery in June fell by 0.82% or 0.69, reaching $83.16 a barrel, while the July Brent oil contract declined by 0.80% or 0.71, trading at $87.50 a barrel.

Currency-wise, the AUD/USD pair remained unchanged at 0.66, while the AUD/JPY pair rose marginally by 0.06% to 103.17. The US Dollar Index Futures decreased by 0.16% to 105.63.

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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