Market Close Commentary; 30 June 2020 

  • Jun 30, 2020 AEST
  • Team Kalkine

The Australian stock trading session ended in the green zone with benchmark index S&P/ASX200 finishing at 5897.9 with a surge of 1.43 per cent when compared with Monday's closure of 5815. 

The market surged after Wall Street on Monday could rebound with Dow Industrials surging to 2.32 per cent as Boeing began testing 737 Max. S&P 500 was up by 1.47 per cent, and the NASDAQ composite had risen by 1.20 per cent.

The US market also gained due to the National Association of Realtors report on Monday, that after two consecutive months of the drop, the index of pending home sales increased by 44.3 per cent in May as compared to the previous month. It means the sector has already witnessed its worst and now recovering.

On the other hand, coronavirus cases are still surging in the US, and affected states are re-imposing restrictions related to social gatherings and business activities.

Asian shares have also surged today after a report showing that China' s manufacturing sector rose more than expected in June, which is a positive piece of news for the global economy struggling to recover from the unprecedented crisis.

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

  • Collins Foods Limited (ASX:CKF), which was up by 12.679 per cent and traded at AUD 9.420 after the announcement of presentation with FY20 results showing revenue growth by 8.9 per cent to AUD 981.7 million amid the COVID-19 crisis.
  • NRW Holdings Limited (ASX: NWH) which was up by 10.029 per cent when traded at AUD 1.865.

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

  • SkyCity Entertainment Group Limited (ASX:SKC) which traded at AUD 2.230, down by 4.701 per cent. 
  • Abacus Property Group (ASX: ABP)which traded at AUD 2.680, down by 3.249 per cent.

Let's see the graph below to view the top five best and worst-performing stocks today: 

 


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