The Australian stock market ended in the green zone and settled at 6051.1, up by 0.74 per cent when compared to yesterday's closure of 6006.4. Australia reported 318 new COVID-19 cases in the last 24 hours.
The Australian Dollar has dipped by 00.58 per cent and was trading at AUD 0.7145 at AEST 03:56 PM. At the same time, gold dropped by 0.74 per cent and was trading at USD 1956.26. On the other hand, Crude oil was down by 0.97 per cent, at USD 40.87 a barrel, on 30 July 2020 at AEST 03:59 PM.
In the US, Federal Reserve commitment to back the US economy until the pandemic gets over helped wall street gain on Wednesday’s trading session. NASDAQ Composite was up by 1.35 per cent, Dow Industrials surged by 0.61 per cent, and S&P 500 gained by 1.24 per cent.
The stocks that performed well in the market today are:
- ALS Limited (ASX:ALQ): The top gainer of today, it traded at AUD 8.830 and gained 6.51 per cent.
- Credit Corp Group Limited (ASX:CCP): It traded at AUD 19.190 and was up by 5.96 per cent.
The stocks that performed the worst today are:
- IOOF Holdings Ltd (ASX:IFL): It traded at AUD 4.86 and was down by 7.78 per cent.
- Sandfire Resources Limited (ASX:SFR): It traded at AUD 5.24 and dipped by 5.75 per cent.
Now, have a look at the graph to see the top and worst-performing stocks for today's ASX trading session:
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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)