Australia Market climbs 0.22%

Australia stock market eked out modest gains on Wednesday, 13 March 2024, on tracking gains of their Wall Street peers, with gains in consumer discretionary. Banks, and real estate stocks helped to overshadow losses elsewhere.

At closing bell, the benchmark S&P/ASX200 index was up 16.92 points, or 0.22%, to 7,729.44. The broader All Ordinaries index grew 16.51 points, or 0.21%, to 7 989.53.

Total 7 of 11 sectors ended higher along with the S&P/ASX 200 Index. Consumer Discretionary was the best performing sector, gaining +1.30%, followed by A-REIT (up 1.05%), financial (up 0.85%), and information technology (up 0.41%). Materials sector was bottom performer, falling 0.75%, followed by energy (down 0.35%).

 

Real-estate and consumer-related stocks performed strongly, with Goodman Group gaining 2.5% and Wesfarmers rising 1.5%, as investors look forward to next week's interest-rate decision by Australia's central bank.

Australia lenders were also higher, with shares of National Australia Bank, ANZ Group, and Westpac Banking Corp advancing between 1.7% and 1.8%.

Powered by Capital Market - Live News