Market Close Commentary; 14 May 2020

  • May 14, 2020 AEST
  • Team Kalkine

Towards the end of market closure, benchmark index S&P/ASX200 remained in the red zone at 5328.7 points, a decline of 1.72 per cent from yesterday’s close at 5,421.9 points.

The declining market reflected negative sentiments amid 594,300 jobs lost between March and April, as per the latest report by ABS. PM Scott Morrison said it is devastating for those employees, their families, and the communities. He cited that though this was not unanticipated during covid-19 crisis, but it is a terribly shocking and a very tough day.

All industry sectors declined today and ended in the red zone, with a maximum decline in energy and IT sector. The top gainers of the day were GrainCorp Limited (ASX:GNC) that traded at AUD 3.670, up by 11.55 per cent and Breville Group Limited (ASX:BRG) traded at AUD 19.950, up by 6.684 per cent.

The worst performer of the day was Unibail-Rodamco-Westfield (ASX:URW) which traded at AUD 3.650, dipped by 7.828 per cent and McMillan Shakespeare Limited (ASX:MMS) traded at AUD 6.900, decline by 7.507 per cent.

Let’s look at the graph for the best and worst performing stocks for today: 


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There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

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