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Australia Market ekes out gain

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Australia stock market eked out modest gains on Monday, 08 April 2024, as gains in tech, utilities, industrial, and healthcare stocks mostly offset by losses in energy and consumer staples stocks.

At closing bell, the benchmark S&P/ASX200 index advanced by 15.81 points, or 0.2%, to 7,789.08. The broader All Ordinaries index grew 18.86 points, or 0.23%, to 8,044.90.

Total 9 of 11 sectors ended higher along with the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining +1.19%, while energy was the bottom performing sector, falling 1.24%.

The top performing stocks in S&P/ASX200 index were LIFE360 INC. and PALADIN ENERGY LTD, up 16.80% and 6.69% respectively. The bottom performing stocks in S&P/ASX200 index were ELDERS and BEACH ENERGY, down 24.42% and 15.04% respectively.

 

Technology stocks were higher, with WiseTech Global up 0.8% and TechnologyOne up by 1.3%.

Beach Energy plunged more than 15% after the company revealed further delays and raising its capex forecast for its Waitsia Stage 2 gas project in Western Australia.

Shares of Coles dipped 1.2% after Craig Emersons interim report into the food and grocery code of conduct recommended making the code mandatory and called for major penalties for breaches. Shares of rival Woolworths sank 0.3%.

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First Published: Apr 08 2024 | 2:32 PM IST

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