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Australia Market ends up on positive offshore lead

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Capital Market
Last Updated : Oct 26 2021 | 9:31 PM IST
The Australian share market finished session marginal higher on Tuesday, 26 October 2021, as sentiment improved on tracking record highs finish of Wall Street overnight, with gains in tech and mining stocks offset losses in gold and energy sectors due to a fall in commodity prices.

At closing bell, the benchmark S&P/ASX200 advanced 2.42 points, or 0.03%, to 7,443.42. The broader All Ordinaries index added 5.05 points, or 0.07%, to 7,759.34.

Total 8 of 11 sectors ended higher along with the S&P/ASX 200 Index. Real estate was the best performing sector, gaining 2%, while energy was worst performing sector, falling 2.3%.

The top performing stocks in this index were NANOSONICS and CROWN RESORTS, up 9.35% and 8.70% respectively. The worst performing stocks in the S&P/ASX200 index were MINERAL RESOURCES and REGIS RESOURCES, up 7% and 6.1% respectively.

Shares of information technology players advanced with Afterpay up 3.3%, Megaport up 3.9%, and Codan up 3.7%.

Shares of materials and resources were up after iron prices recovered from last week's selloff. Lithium miner Pilbara Minerals surged up to 8.6% after announcement of sealing a joint venture deal with steelmaker POSCO.

Casino operator Crown Resorts soaring up to 12.8% on being granted a two-year grace period to improve its Melbourne casino operations.

Gold stocks declined on tracking lower gold prices, with Regis Resources leading losses after its September-quarter gold production and sales missed market expectation.

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CURRENCY NEWS: The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.936 after a recent jump from below 93.6. The Australian dollar was at $0.7496, against an earlier low of $0.7482.

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First Published: Oct 26 2021 | 4:09 PM IST

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