ASX closes 0.9% higher: All sectors close higher

Market Reports

by Peter Milios

The Australian sharemarket saw a broad-based rally on Tuesday, driven by gains in US blue-chip tech stocks, pushing the S&P/ASX 200 Index up by 0.9% to 7829.7. All 11 sectors ended in the green, with notable performances from the communication services and consumer discretionary sectors. Major banks and tech stocks also saw significant gains, contributing to the overall market rise. Investors were digesting mixed economic data, with consumer sentiment falling 1.1% in July despite fears of inflation and interest rate hikes.

Futures

The Dow Jones futures are pointing to a rise of 59 points.

The S&P 500 futures are pointing to a rise of 11.50 points.

The Nasdaq futures are pointing to a rise of 60.50 points.

The SPI futures are up 63 points.

Best and worst performers

The best-performing sector was Communication Services, up 1.39 per cent. The worst-performing sector was Energy, up 0.15 per cent.

The best-performing large cap was Meridian Energy (ASX:MEZ), closing 2.56 per cent higher at $6.00. It was followed by shares in Telstra Group (ASX:TLS) and Brambles (ASX:BXB).

The worst-performing large cap was Treasury Wine Estates (ASX:TWE), closing 1.97 per cent lower at $11.96. It was followed by shares in Infratil (ASX:IFT) and Worley (ASX:WOR).

Asian markets

Japan's Nikkei has gained 1.96 per cent.

Hong Kong's Hang Seng has gained 0.35 per cent.

China's Shanghai Composite has gained 1.31 per cent.

Commodities and the dollar

Gold is trading at US$2,371.40 an ounce.

Iron ore is -1.7 per cent lower at US$108.65 a tonne.

Iron ore futures are pointing to a -0.7 per cent fall.

Light crude is trading $0.07 higher at US$82.40 a barrel.

One Australian dollar is buying 67.42 US cents.

Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?