The ASX has continued its strong gains throughout the day, reaching a new 100-day high of 7,538 points at the close of trade on Wednesday.
It follows a strong performance on Wall Street overnight as more traders bet on the possibility of interest rate cuts in 2024, thanks to the ongoing optimism out of the US Federal Reserve meeting last week.
The local stock market’s performance on Wednesday was also the best since February 7.
When it comes to the sectors, they all finished in the black.
The strongest growth came from industrials (+1.4%), followed by academic and educational services (+1.3%) and real estate (+1%).
Utilities increased by 0.8%, while healthcare and consumer cyclicals increased by 0.7% each.
As for the day’s top performers:
- +12.3% for Sayona Mining
- core lithium +9.5%
- Emerald Resources increased by 7.2%.
- Chalice Mining increased by 6.1%.
- Weebit Nano (+4.8%)
And for the worst performers:
- PEXA -11.8%
- Neuren Pharmaceuticals has dropped by 4.3%.
- Orica -2.5%
- -2% for Paladin Energy
- ARB -1.8%
That is all for today’s blog — thanks for reading.
