A fitting picture for the bulls as ASX closes at a record high

July 22, 2021 - 2 days ago
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The Australian share market booked solid gains on Thursday, building on a Wall Street’s rally that followed the session to end on a bullish cheer after posting a new record close, boosted by Energy, Materials and Industrials and Financials, while Health Care slipped into the red.

At the closing bell, the benchmark S&P/ASX 200 index rose +77.7 points, or +1.06%, to 7,386.4, while the All Ordinaries added +78.0 points, or +1.03%, to 7,658.9.

The Energy sector was the star performer with Woodside Petroleum surging +3.2% to $22.58, while Oil Search ended up +0.99%, to $4.08, Santos climbed +2.59%, to $6.74, Beach Energy ended up +4.96, to $1.27, and Worley rose +2.53%, to $11.35.

Materials came in second, with BHP Group leading the titans higher after climbing +3.13%, to $51.45, while Rio Tinto rose +1.22% to $127.41, while Fortescue Metals Group reversed and slid -0.4%, to $25.19.

Gold stocks also shined, with Newcrest Mining rising +0.42% to $26.18, Northern Star Resources rose +5.39% to $10.76, and Evolution Mining Ltd ended flat at $4.07.

Technology stocks slipped with Buy-now-pay-later giant Afterpay tumbling -0.35%, to $105.84, accounting software provider Xero dropped -0.39%, to $139.56, Altium fell -0.64%, to $32.60, Megaport added +0.06%, to $15.80, NEXTDC rose +1.04%, to $12.67, and EML ended flat at $3.87.

Zip Co. shares fell -7.8%, to $6.99 despite the buy now pay later company reporting revenue doubled over the June quarter, driven by surging growth in the United States.

Orocobre added +9.9%, to $7.65, Pilbara Minerals advanced +10.1%, to $1.69, Lynas Rare Earths climbed +9%, to $6.41, Iluka Resources firmed +7.2%, to $9.33 and IGO ended +4.3%, higher at $8.74.

The Financial sector strengthened with Commonwealth Bank leading the “Fab Four” (banks) higher after settling at a +1.48% gain to $99.88, while Australia and New Zealand Banking Group ended up +1.27%, to $28.00, National Australia Bank added +1.17%, to $26.04, Westpac Banking Corp rose +0.69%, to $24.93 and Macquarie Group gained +1.48% and settled at $157.47.

Health Care slipped into the red with Biotechnology giant CSL falling -0.31% to $289.24, while ResMed rose +0.12%, to $34.80, Fisher & Paykel Healthcare tumbled -0.8%, to $29.85, and Cochlear rose +0.07%, to $244.60.

Supermarket giants Coles and Woolworths were firmer as Coles rose +0.64% to $17.39, while its rival Woolworths added +0.62% to $39.17, while Endeavour slid -0.46% to $6.43.

E-commerce group Kogan tumbled +3.11% and settled at $11.20, while Seek fell -1.01% to $30.38.

Meanwhile, JB Hi-Fi rose +0.04% to $49.52, while Telstra added +1.34% to $3.78, while Wesfarmers advanced +0.23%, to $61.42, Aristocrat Leisure added +0.85%, to $41.54 and QBE Insurance rose +1.42% to $10.73.

Travel stocks were firmer with Sydney Airport adding +0.52%, to $7.79, Corporate Travel Management rose +4.87%, to $21.10, Flight Centre added +3.58%, to $15.03, and Webjet rose +3.16% to $4.90.

Meanwhile, our local currency, the Australian dollar, is currently buying US$0.7370 (as of writing).

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