The Australian market closed virtually flat after surrendering early gains on Thursday, 11 March 2021, as gains in tourism stocks on news of support package countered losses in big banks and buy-now-pay-later giant Afterpay.
At closing bell, the benchmark S&P/ASX200 edged down 0.18 point, or 0.00%, to 6,713.92. The broader All Ordinaries edged up 5.77 points, or 0.08%, to 6,952.92.
Consumer discretionary stocks were the bright spot throughout the day as travel-exposed companies were buoyant on news of stimulus for the sector. The government unveiled a A$1.2 billion tourism support package aimed at boosting local travel. Flight Centre Travel Group was the top gainer, adding 9.2%. Corporate Travel Management rose 4.3%, while travel bookings company Webjet climbed 3.8%. Casino and gaming company Aristocrat Leisure, Qantas Airways and Sydney Airport Holdings all clocked gains of more than 2%.
The Australian market closed session higher on Wednesday, 03 March 2021, as market participants started purchases on dips and buybacks following the market s downturn the day before. Meanwhile, bargain buying also propelled by better than expected GDP data for the fourth quarter of 2020 (October to December).
At closing bell, the benchmark S&P/ASX200 advanced 55.71 points, or 0.82%, to 6,817.98. The broader All Ordinaries added 57.97 points, or 0.83%, to 7,067.86.
Most sectors on the market improved, materials easily contributing most to broader advances, followed by financials, energy, consumer discretionary and industrials.
Gold miners were some of the biggest winners for the day. Ramelius Resources (RMS) ended 13.7% higher while larger gold miner, Northern Star (NST) gained 4.2%. Major miners Fortescue Metals (FMG) and BHP Group (BHP) roughly added 27 points alone.
Read more about Australia Stocks climb to 11-month highs on Business Standard. Materials and resources were the biggest boosts to the benchmark, with BHP Group shares leading rally, up 2.7%, after the world s top miner reported a 16% increase in its underlying half-year profit declared a bumper interim dividend and expects
The Australian share market finished session at an 11-month high on Wednesday, 20 January 2021, as investors risk sentiments bolstered by hopes for additional U. S. stimulus and a faster rollout of coronavirus vaccines under incoming U. S. President Joe Biden, who will be sworn into office later today. Meanhile, U. S. Treasury Secretary nominee Janet Yellen signals her readiness to introduce large-scale fiscal stimulus measures at a Senate confirmation hearing also underpinned sentiments.
At closing bell, the benchmark S&P/ASX200 added 27.78 points, or 0.41%, to 6,770.40, an 11-month high. The broader All Ordinaries climbed up 36.02 points, or 0.51%, to 7,051.01.
Improvements have also been rather broad based with gains across nearly every sector.
The Australian share market finished session lower on Monday, 18 January 2021, as risk aversion selloff triggered on tracking soft lead from Wall Street last Friday. Meanwhile, the emergence of new COVID-19 cases in New South Wales over the weekend also dented sentiment.
At closing bell, the benchmark S&P/ASX200 fell 52.40 points, or 0.78%, to 6,663.04. The broader All Ordinaries dropped 51.43 points, or 0.74%, to 6,935.36.
Losses were led by underperformance from resources, particularly materials which slid most on caution ahead of quarterly production numbers from the mining giants over the next two days.
Financials were also among the larger decliners in line with a risk-off sentiment amid worries over rising coronavirus cases in the New South Wales state.