Market Close Commentary; 4 May 2020

May 04, 2020 05:28 PM AEST
Team Kalkine

By market closure on 4 May 2020, Benchmark index improved by 1.41% and settled at 5,319.8. Most sectors closed in the green zone except energy sector and emerging companies where a marginal drop in the index was seen.

Amongst the various sectors on ASX, Information Technology was the best performer for the day. The sector improved by 5.04% and ended the day’s session at 1,307.5.

From the Information Technology sector, the shares of Afterpay Limited (ASX:APT) zoomed up by 23.8% and closed at $36.1. The company on 1 May 2020, updated that Tencent Holding Limited, a Hong Kong Stock Exchange listed company became the substantial holder of Afterpay. This is an indication that the company is capable of attracting strategic investors of its capabilities.

Let us look at the best and worst performing stocks for the day.

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