Market Close Commentary; 29 July 2020

  • Jul 29, 2020 AEST
  • Team Kalkine

The Australian stock market entered the red zone after early trade gains and finished at 6006.4, dipped by 0.23 per cent when compared to Tuesday's closure of 6020.5.

The market reflected the negative sentiments due to further travel restrictions imposed by Queensland, and Victoria states reporting another 295 new cases. 

The Australian Dollar has risen slightly by 0.34 per cent, at AEST 04:33 PM, the value remained AUD 0.7181. Gold's value dipped by 0.06 per cent, with USD 1957.51 at AEST 04:33. Crude oil was up by 0.95 per cent, and its value was USD 41.42 at AEST 04:34.

In the US stock market, benchmark indexes ended in the red zone, with NASDAQ Composite was down by 1.27 per cent, Dow Industrials dipped by 0.77 per cent, and S&P 500 fell by 0.65 per cent.

The stocks that performed well in the market today are:

  • AP Eagers Limited (ASX:APE) traded at AUD 7.990 and gained 13.333 per cent. 
  • Mcmillan Shakespeare Limited (ASX:MMS) traded at AUD 9.290 and was up by 3.337 per cent.

The stocks that lost most points in today's market are:

  • IGO Limited (ASX:IGO), which traded at AUD 4.800 and was down by 13.201 per cent.
  • St Barbara Limited (ASX:SBM), which traded at AUD 3.510 and dipped by 7.632 per cent.

Now, have a look at the graph to see the top and worst-performing stocks for today's ASX trading session:

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no one left untouched by the charm of the multibillion-dollar global boom in cannabis. Its glorious journey from a criminalized drug to being used in over 20 countries for treating medical conditions.

No wonder the cannabis stocks are on the edge of a green rush. Don’t miss out on the happenings in the cannabis sector and take advantage of the growth phase of this sector by subscribing to our report on Marijuana stocks in Australia.

Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.

Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022. 

Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK