A Ray of Hope Emerges, ASX Stocks trading in Green

A Ray of Hope Emerges, ASX Stocks trading in Green

The news alerts all, ringing the alarming bells of the health emergency that have been the centre of discussion not only among the diplomats, but also amidst the masses all around the world that seems to be cascading down at a somewhat accelerated pace. As WHO moved ahead to confirm coronavirus as a global pandemic, the little expectation we had for market stability seemed to be leaving us.

Drugged by the fear of the impending doom, as you brace yourself for witnessing one another market slump, you feel a rush of adrenaline as you notice the green sign on your screen. And the brain quickly wonders if you have opened the portal to another world or it is some magical wand that over the night has eradicated all the problems of Covid-19.

Unfortunately, it is neither of the two (We still might have to wait for another sci-fi movies to experience such outcomes). Yet our hopes do not leave us as the green signal on the stock market may metaphorically represent the rising hopes, and the believes that the market can fight back. 

Source: ASX

S&P/ ASX 200 rose by 234.7 points by the close of the trading session on 13 March 2020 representing positive sign for the stock market. 

Government Endeavour to boost the economy

The optimistic sign in the direction of the index may be the reflection of the sentiments that were garnered in the positive direction due to the stimulus package unveiled by the Australian Government. The Aussie Prime Minister Scott Morrison on 12 March 2020 announced to provide the stimulus package of $17.6 billion for supporting the economy in a difficult time. The package offers incentives to the low-income earners, thereby alleviating the financial worries that accompanied the medical emergency.

The cash crunch in the markets due to the uncertainty amongst the investors has resulted in the economic slowdown in the Australian market. The stimulus package prominent aims at propelling the economic growth by motivating the consumers towards spending. 

The economic booster package comes following the introduction of $2.4 billion medical response by the government that aims at maintaining all sorts of medical support to tackle the cases of coronavirus. The government health response could help relax the financial woes that seem to be encircling the people regarding the potentially dreaded medical expenses.

Performers for today

The bond yield of the Australian 10Y bonds increased from 0.79% or 1.03% representing upliftment in the market sentiments following the RBA’s injection of $8.8 billion in the economy. The injection further is driven by the short-term liquidity demands that have arisen due to the growing conservatism amongst the investors. 

CSL Limited (ASX: CSL) stock escalated closed at $313.830, up by 11.878% intraday. Furthermore, Woolworths Group Limited (ASX: WOW) and Coles Group Limited (ASX: COL) also acknowledged the growth by 6.742% and 8.74% in their stocks, respectively. 

The different sectors on Friday seemed to be reflecting the positive sentiments that sprung due to the upliftment in the liquidity market of Australia. The healthcare, energy, consumer staples and communication services sectors were amongst the top gainers. S&P/ASX 200 Health Care sector rose by 10.6%, acknowledging a significant rise in a single day.

The higher jump prominently by, the safer segments that are comparatively resilient compared to the cyclical ones highlight the investors are yet very conscious of their investments as the coronavirus cases continue to spread. 

Nevertheless, other sectors also received confidence in positive market trends. South32 Limited (ASX: S32), which is a metal and mining company grew by 9.943% by the end of the trading session on 13 March 2020. The stock of Fortescue Metals Group Ltd (ASX: FMG) on Friday closed at $9.930 per share, up by 12.969% from its last close. Similarly, Rio Tinto Limited (ASX: RIO) also witnessed an appreciation of 4.755%. 


The positive sentiments in the market today seemed in line, with your aspiring plans for the weekend. While the stocks trading in green is brimming positive hopes for the day, the further movements would be highly guided by the time the health experts take to contain the medical emergency. The government’s response to the crisis in the coming time would also be driving the market movement.

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