Market Close Commentary; 16 July 2020  

  • Jul 16, 2020 AEST
  • Team Kalkine

The ASX today finished in the red zone. The benchmark index ended at 6010.9, down by 0.69 per cent as compared to yesterday's closure of 6052.9.

The exchange reflected the negative sentiments after ABS reported an increase in the unemployment rate to 7.4 per cent. All sectors except industrials and communication services ended in the red zone.

Moreover, total new Covid-19 cases in the last 24 hours reported were 259. These new cases and re-imposed restrictions are adding to the stress of Australian investors.

On the other hand, US stocks gained on Wednesday due to high hopes of coronavirus vaccine from Moderna. The initial human trials of the vaccine showed a robust immune response towards the virus. 

The news resulted in Moderna's shares go up by 6.9 per cent. NASDAQ Composite was up by 0.59 per cent, Dow Industrials surged by 0.85 per cent, and the S&P 500 was up by 0.91 per cent on 15 July 2020.

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

  • Whitehaven Coal Ltd (ASX:WHC), which was up by 6.355 per cent when traded at AUD 1.590, and
  • Cooper Energy Limited (ASX: COE), which grew by 6.329 per cent when traded at AUD 0.420.    

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

  • Breville Group Limited (ASX: BRG), which traded at AUD 23.900, down by 6.311 per cent, and   
  • AVITA Therapeutics, Inc.(ASX:AVH), which traded at AUD 6.700, down by 5.099 per cent.  

See the graph below to view five best and worst-performing stocks in today's market: 

 


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