Market Close Commentary; 11 June 2020 

  • Jun 11, 2020 AEST
  • Team Kalkine

Today, all sectors ended in the red zone with benchmark index S&P/ASX200 declining more than three per cent after reporting a seven-day gaining streak till 11 June 2020. The Australian stock market finished at 5960.6, down by 3.05 per cent as compared to yesterday's closure of 6148.4.

Federal Reserve Chairman, Jerome Powell has cited once the superpower US economy has a long road to recovery despite the surprising jobless report for May.

He said in a press conference that while the US might have hit the bottom of the pandemic recession, right now it is so early to pull back support for the economy.

ASX was reflecting some positive sentiments due to reopening of economy and the US’s May report of unemployment. However, in this virus-driven world, there is so much uncertainty for market and businesses, and only time will show how the market will deal with this painful period. 

The top gainer in today's market was

  • Northern Star Resources Limited (ASX:NST), up by 6.764 per cent, closed trading at AUD 13.890, and
  • Newcrest Mining Limited (ASX:NCM) which was up by 5.7 per cent ended at AUD 30.040.

The worst-performing stocks for today were –

  • Flight Centre Travel Group (ASX:FLT) which traded at AUD 15.100, down by 10.386 per cent, and
  • Credit Corp Group Limited (ASX:CCP) which traded at AUD 18.270, down by 10.309 per cent.

Let's see the graph below to view the top five best and worst-performing stocks today:

 


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