The ASX200 rallied strongly on Thursday after a fairly lacklustre start ultimately posting a solid +0.8% gain taking the market to within striking distance of its 2021 high. Gains were again broad based with almost 70% of the market closing up while heavyweights Commonwealth Bank (CBA), CSL Ltd (CSL) and BHP Group (BHP) all outperformed on the day.
The ASX200 had a bad day at the office yesterday underperforming most global indices as nerves appeared to flicker across investors headlights – the local indexes largest decline in April unfolded courtesy of some broad based selling which saw over 65% of stocks fall while on the sector level only the Telcos closed in positive territory.
The ASX200 tried to follow Asian markets higher yesterday but some weakness across US futures generated some trepidation for investors and the Australian market ultimately closed basically unchanged.
Last week saw the ASX200 push to a fresh post COVID high, finally ending the week less than 2% below its previous peak as local equities danced the bullish risk jig.
The ASX200 continued with its impressive April rally yesterday enjoying a strong turnaround from early losses to finally close up +0.5%, less than 2% below its 2020 all-time high.
The ASX200 enjoyed a strong Wednesday reaching fresh post COVID highs in the late afternoon, only in January & February of 2020 has the local index ever traded higher. When we look at the market internals things currently look good with over 65% of the market rising, plus 10 stocks surged over 10% compared to the days weakest link Credit Corp (CCP) which only fell -3.7%.
The ASX200 is now 2-weeks into both April and Q2 of 2021 and we’re finally seeing some action on the index level with the local market up almost +3% making fresh 12-month highs in the process, the same again on the upside and the bulls will be cheering fresh all-time highs! Yesterday was another fairly uneventful session across Asia with only 55% of the Australian market closing positive, with the exception of the BNPL space roaring ahead, led by Zip (Z1P) which rallied +17%, it was also a fairly muted start to the week under the hood.
The ASX200 drifted -0.3% yesterday following US futures lower during our time zone, losers managed to outnumber winners 2:1 on a day when there were very few standout winners e.g. Cochlear was the best performing stock and it rallied less than 3%.
April is one of the most bullish months of the year for equities with an average gain for the ASX 200 over the past 10 years of 2.5%, while 80% of the time the market has finished the month higher.
The ASX200 had a bad day at the office yesterday underperforming most global indices as nerves appeared to flicker across investors headlights – the local indexes largest decline in April unfolded courtesy of some broad based selling which saw over 65% of stocks fall while on the sector level only the Telcos closed in positive territory.
The ASX200 tried to follow Asian markets higher yesterday but some weakness across US futures generated some trepidation for investors and the Australian market ultimately closed basically unchanged.
Last week saw the ASX200 push to a fresh post COVID high, finally ending the week less than 2% below its previous peak as local equities danced the bullish risk jig.
The ASX200 continued with its impressive April rally yesterday enjoying a strong turnaround from early losses to finally close up +0.5%, less than 2% below its 2020 all-time high.
The ASX200 enjoyed a strong Wednesday reaching fresh post COVID highs in the late afternoon, only in January & February of 2020 has the local index ever traded higher. When we look at the market internals things currently look good with over 65% of the market rising, plus 10 stocks surged over 10% compared to the days weakest link Credit Corp (CCP) which only fell -3.7%.
The ASX200 is now 2-weeks into both April and Q2 of 2021 and we’re finally seeing some action on the index level with the local market up almost +3% making fresh 12-month highs in the process, the same again on the upside and the bulls will be cheering fresh all-time highs! Yesterday was another fairly uneventful session across Asia with only 55% of the Australian market closing positive, with the exception of the BNPL space roaring ahead, led by Zip (Z1P) which rallied +17%, it was also a fairly muted start to the week under the hood.
The ASX200 drifted -0.3% yesterday following US futures lower during our time zone, losers managed to outnumber winners 2:1 on a day when there were very few standout winners e.g. Cochlear was the best performing stock and it rallied less than 3%.
April is one of the most bullish months of the year for equities with an average gain for the ASX 200 over the past 10 years of 2.5%, while 80% of the time the market has finished the month higher.
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