The Australian share market reflected a fluctuating pattern and ended in the red zone with benchmark index finishing at 6014.6, down by 0.71 per cent as compared to Friday's closure of 6057.9. All sectors ended in the red zone except for the IT sector.
On Thursday, the US reported over 55,000 new cases, the biggest number reported in any country in a single day. However, the US stock market ignored the number of cases, and the sentiments remained positive on the hope of global economic recovery.
The top-performing stocks for today's market are:
- Mesoblast Limited (ASX: MSB), which announced that an expanded access protocol (EAP) has been started in the US for the use of its allogeneic mesenchymal stem cell (MSC) product candidate remestemcel-L. It is being used for treating children who have Covid-19 along with other complications of the multisystem inflammatory syndrome (MIS-C) and cardiovascular disease.
MSB was up by 11.276 per cent when traded at AUD 3.750.
- oOh!media Limited (ASX:OML) which was up by 9.29 per cent when traded at AUD 1.000.
The worst-performing stocks for today's market are:
- Adbri Limited (ASX:ABC), whose performance remained the same today as well after being the worst-performing stock. It traded at AUD 2.190, down by 6.809 per cent.
- Bega Cheese Limited (ASX:BGA) which traded at AUD 4.660, down by 6.426 per cent.
See the graph below to view five best and worst-performing stocks on Thursday:
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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)