Market Close Commentary; 5 June 2020

  • Jun 05, 2020 AEST
  • Team Kalkine

Before closing for the week, the Australia stock market kept fluctuating between the red and green zone and benchmark index S&P/ASX200 finished at 5998.7, up by 0.12 per cent as compared with Thursday's closure of 5,991.8.

Australian and global economies are going through tough times with unprecedented uncertainties shaping up the world economy and respective stock markets. The uncertainty is reflected in markets’ fluctuating pattern with no clarity on when the businesses and world could function as pre-COVID times. The worldwide markets are waiting for some good news to boost their sentiments, but it seems the wait is going to be a long one.

On US-China front, after Trump administration threatened to block flights from China to the US, Beijing has announced that it will allow limited US flights to China. The biggest economies quarrelling during such difficult economic times is adding more worries to the businesses and investors' financial woes.

Health Care sector declined the most in today's market, and financial sectors witnessed the maximum gain.

The top gainer in today's turbulent market were:

  • Pilbara Minerals Limited (ASX:PLS), up by 22.414 and closed trading at AUD 0.355, and
  • Bank Of Queensland Limited (ASX:BOQ), up by 8.947 per cent and settled at AUD 6.210.

The worst-performing stocks for today were –

  • Nanosonics Limited (ASX:NAN) which traded at AUD 6.930, down by 5.714 per cent, and
  • Appen Ltd (ASX:APX) which traded at AUD 29.080, down by 4.593 per cent.

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

 


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There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

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