At closing bell, the benchmark S&P/ASX200 index was up 3.34 points, or 0.05%, to 7,311.10. The broader All Ordinaries index inclined 10.50 points, or 0.14%, to 7,514.40.
The top performing stocks in the S&P/ASX 200 Index index were XERO and NEW HOPE CORPORATION, up 10.66% and 5.63% respectively. The bottom performing stocks in S&P/ASX200 index were IMUGENE and PERPETUAL, down 3.7% and 3.37% respectively.
Total 8 of 11 sectors ended higher along with the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining 2.7%, followed by energy (up 1.37%), telecommunication services (up 0.8%), and consumer discretionary (up 0.7%). Healthcare was worst performing sector, falling 1.5%, followed by materials (down 0.9%).
Shares of technology companies advanced, led by Xero with gains of more than 10%, after the cloud based accounting software company announced a staff reduction of up to 800 employees. The job cuts come as the company, which has heavily expanded over the past years, is facing a deepening downturn in the technology sector. WiseTech climbed 5.6% and Computershare added 0.9%.
Energy stocks were also higher, with Coal miners Yancoal (up 3.6%) and Whitehaven (up 5.6%) leading rally.
Materials sector closed lower, as Fortescue (down 0.4%), Rio Tinto (down 0.3%) and BHP (down 0.3%) weighed on the bourse, as BHP traded for the first time without the rights to its latest dividend.
Among individual stocks: Shares in department store Myer soared after the company said its half-year profit more than doubled and there was more growth to come.
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