Market Close Commentary; 9 July 2020 

  • Jul 09, 2020 AEST
  • Team Kalkine

The Australian stock market has rebounded today and ended in the green zone with the benchmark index closing at 5955.5, up by 0.59 per cent as compared to yesterday's closure of 5920.3.

Amid the crisis, the stock markets are trying their best to remain positive. In the US stock market on Wednesday tech stocks such as Apple and Microsoft drove the market up. Nasdaq Composite gained by 1.44 per cent, S&P 500 was up by 0.78 per cent, and Dow Industrials surged by 0.68 per cent. The US share market ended in the green zone despite a record spike of 60,000 coronavirus cases on Tuesday.

ASX also gained despite the ongoing second lockdown in Victoria state. The sectors that grew most in today's Australian share market are - Energy, Gold, and IT.

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

  • Afterpay Limited (ASX:APT), which was up by 11.364 per cent when traded at AUD 73.500.
  • Netwealth Group Limited (ASX:NWL) today gained by 9.159 per cent when traded at AUD 10.130.  

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

  • GWA Group Limited (ASX:GWA), which traded at AUD 2.570, down by 3.019 per cent.  
  • Treasury Wine Estates Limited (ASX:TWE) today remained the second worst-performing stock which traded at AUD 10.950, down by 2.926 per cent. 

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

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no one left untouched by the charm of the multibillion-dollar global boom in cannabis. Its glorious journey from a criminalized drug to being used in over 20 countries for treating medical conditions.

No wonder the cannabis stocks are on the edge of a green rush. Don’t miss out on the happenings in the cannabis sector and take advantage of the growth phase of this sector by subscribing to our report on Marijuana stocks in Australia.

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)

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK