ASX path ends foggy

January 12, 2021 - 2 weeks ago
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The Australian share market struggled throughout Tuesday to attract any bullish momentum, with the afternoon session quickly loses direction, as the market’s path becomes uncertain, as mining giants and tech stocks extend losses, while the major banks rose.

At the closing bell, the benchmark S&P/ASX 200 index lost -18.10 points, or -0.27%, to 6,679.08, while the All Ordinaries fell -20.40 points, or -0.29% to settle at 6,939.10.

Our major local miners got lost on the bullish path, with BHP leading the titans lower after falling -1.08% to $46.00, while Rio Tinto dropped -0.81% to $121.41, Fortescue Metals Group lost -0.32%, to $25.13 and Mineral Resources declined -1.52%, to $38.90.

Gold resources struggled to advance with Newcrest Mining falling -0.29%, to $27.59, Northern Star Resources lost -0.97%, to $13.31, Westgold slipped -2.92%, to $2.66.

Meanwhile, OZ Minerals dropped -3.85%, to $20.22, Saracen Minerals slid -0.21%, to $4.80, Ramelius Resources added +1.26%, to $1.61, Silver Lake Resources closed +0.57% higher to $1.75 and Evolution Mining Ltd lost -1.06%, to $4.67.

The Financial sector kept above the waterline with National Australia Bank rose leading the “Fab Four” (banks) higher by +1.08%, to $23.46, with Westpac Banking Corp adding +0.99, to $20.49, Commonwealth Bank climbed +0.85%, to $85.88, Australia and New Zealand Banking Group rose +0.84%, to $24.04 and Macquarie Group lost -0.87% and settled at $138.79.

As for our oil and gas producers, Woodside lost -0.55%, to $25.32, Oil Search lost -1.18%, to $4.18, Origin Energy fell -1.96%, to $5.01, AGL Energy declined -2.29%, to $11.95 and Santos climbed +0.42%, to $7.23.

Buy now, pay later Afterpay plummeted -1.88%, to $111.85, WiseTech rose +0.36%, to $27.84, Computershare added +0.14%, to $14.10, and Xero fell -2.33%, to $132.76.

Travel stocks struggled to keep above the waterline with Webjet falling -2.45%, to $4.78 and Flight Centre lost -0.99%, to $15.06.

Biotechnology giant CSL lost -1.04% to $273.07, while ResMed rose +0.14% to $28.36, Fisher & Paykel Healthcare dropped -1.36% to $29.74, while Cochlear lost -1.38% to $180.38 and Mesoblast added +1.56% to $2.60.

Meanwhile, our local currency, the Australian dollar is currently buying US$0.7730 (as of writing).

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