Today the market closed for the week and ended in the green zone. The benchmark index settled at 6126.2 and was up by 0.58 per cent as compared to yesterday's closing of 6091.
The market got a positive boost from RBA Governor's comment today that the country's banking system is stable enough to handle the rising unemployment and deferred loans of millions of dollars.
US stock market on Thursday witnessed a mixed performance, with NASDAQ Composite up by 0.27 per cent, Dow Industrials down by 0.29 per cent, and S&P 500 dipped by 0.20 per cent.
In the commodity section today at AEST 3:11 PM, the Australian Dollar was up by 0.03 per cent and was trading at 0.7150. Gold dipped by 0.40 per cent and was trading at USD 1945.99, while Crude oil declined by 0.36 per cent and was trading at USD 42.09 a barrel.
The stocks that outperformed others in today's trading session are:
- Mesoblast Limited (ASX:MSB)was the top gainer today and traded at AUD 4.70, up by 39.05 per cent. MSB today announced that the Oncologic Drugs Advisory Committee (ODAC) of the US FDA voted overwhelmingly for the effectiveness of remestemcel-L (RYONCIL™) in pediatric sufferers with SR-aGVHD.
- Computershare Limited (ASX:CPU) remained the second top gainer. It traded at AUD 14.11 and was up by 7.79 per cent.
The stocks that performed the least today are:
- Whitehaven Coal Limited (ASX:WHC) traded at AUD 1.32 and was dipped by 3.65 per cent.
- TPG Telecom Limited (ASX:TPG) traded at AUD 7.45, was down by 3.25 per cent.
The graph below shows the five top performing and least performing stocks for today's market:
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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)