Proactive’s Tylah Tully gives a market wrap for the 16th of August.
The ASX closed higher, following a strong performance on Wall Street. The S&P/ASX 200 index gained 1.21%, closing at 7,914, surpassing its 20-day moving average. The index has risen by 2.49% over the past five days and is currently 2.18% below its 52-week high.
All eleven sectors of the ASX ended the day in positive territory, with the Energy sector leading, gaining just over 2%. Zip Co was a top performer, closing 13.47% higher at AUD 2.19. Audinate Group also saw a significant increase of 5.23%, trading at AUD 9.45. James Hardie Industries was among the largest large-cap gainers, with shares rising by 6.19% to AUD 3.03.
Mining companies had a strong session, with Fortescue Metals Group rising by 2.3%, Rio Tinto Group by 1.42%, and BHP by 1.5%. All major banks also showed positive movement, including NAB, which increased by 1.5% despite reporting a 6% year-on-year decrease in third-quarter cash earnings, totalling AUD 1.75 billion.
The S&P/ASX Small Ordinaries index gained just over 1%, ending the week at 3,011.
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