Market Close Commentary; 14 July 2020

  • Jul 14, 2020 AEST
  • Team Kalkine

Today, the Australian stock market ended in the red zone. The benchmark index finished at 5941.1, down by 0.61 per cent as compared to Monday's closure of 5977.5.

US market on Monday had mixed session. NASDAQ Composite was down by 2.13 per cent, Dow Industrials up by 0.04 per cent, and S&P 500 was down by 0.94 per cent.

In the earlier session market rallied on fast track vaccination's hopes. Then, drop began in the market after California ordered a shutdown of indoor businesses to curb the spread of the virus. Governor Gavin Newsom said that museums, cinemas, bars, zoos, wineries, and restaurants should close indoor operations immediately.

All sectors on ASX have ended in the red zone except the consumer staples. Australia began its human trial phase 1 of COVID-19 vaccine on Monday, but it seems ASX has ignored this piece of news and continued a gloomy session.

The top-performing stocks for today's market are:   

  • Credit Corp Group Limited (ASX:CCP), which was up by 6.68 per cent when traded at AUD 16.290.

On 13 July, CCP released its unaudited results update, and the company stated that it enters FY 2021 in a robust position with no net debt and undrawn lines of AUD 375 million.

  • Breville Group Limited (ASX:BRG) today grew by 5.529 per cent when traded at AUD 24.240.  

 The worst-performing stocks for today's market are:  

  • Mesoblast Limited (ASX:MSB), which traded at AUD 3.220, down by 7.471 per cent.  
  • Afterpay Limited (ASX:APT) remained the second worst-performing stock when traded at AUD 66.550, down by 7.234 per cent.  

  Have a look at the graph below to view five best and worst-performing stocks in today's market: 

 


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