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:
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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)