Market Close Commentary; 8 July 2020

  • Jul 08, 2020 AEST
  • Team Kalkine

The Australian stock market remained gloomy today, it continued yesterday's trend and ended in the red zone. The benchmark index finished at 5920.3, down by 1.54 per cent as compared to yesterday's closure of 6012.9. 

The market reacted to the re-imposed lockdown in Victoria state and also following US stock market pattern which also ended in the red zone on Tuesday with NASDAQ composite dipping by 0.86 per cent, Dow Industrials down by 1.51 per cent, and S&P 500 down by 1.08 per cent.

Australia has handled the pandemic well since its onset and could reopen the economic activities earlier than expected; however, the new cases have created market woes for investors, at least for some time now.

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

  • Northern Star Resources Limited (ASX:NST), the company has today reported underlying free cash flow of AUD 217.9 million from the sale of 262,717 ounces. NST was up by 6.456 per cent when traded at AUD 14.840.
  • Perseus Mining Limited (ASX:PRU) gained by 5.618 per cent when traded at AUD 1.410. It also recorded fresh 52-weeks high of $1.435 today.

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

  • Domain Holdings Australia Limited (ASX:DHG), which traded at AUD 3.140, down by 9.77 per cent. 
  • Alumina Limited (ASX:AWC) that remained the second worst-performing stock when traded at AUD 1.590, down by 7.018 per cent. 

See the graph below to view five best and worst-performing stocks on Thursday: 

 


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