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Key Highlights:
ASX 200 expected to open modestly higher, led by resources and financial sectors.
Global market sentiment remains stable, with positive momentum from commodities and banks.
Mining, energy, and banking stocks set to lead gains in the early session.
On April 29, 2025, the ASX 200 is poised to open on a positive note, supported by stable global sentiment and strong performance across key sectors. Despite a slight dip in U.S. tech stocks overnight, the Australian index is benefiting from the stability of global markets, particularly the resilience in commodities and the banking sector. The broader market environment remains favorable for Australian equities, with expectations for gains in mining, energy, and banking stocks at the open.
Global Market Influence
Global markets showed mixed results with the Nasdaq Composite registering a small decline, while the Dow Jones and S&P 500 remained relatively steady. Despite this, commodity prices have held firm, with key materials such as iron ore, oil, and gold showing strength. This has helped support the positive sentiment in global markets, contributing to the outlook for a higher opening on the ASX 200. Additionally, the performance of Asia-Pacific markets, including the Nikkei and KOSPI, continues to offer additional support to Australian equities.
ASX 200 Opening Outlook for April 29
The ASX 200 index is expected to open within a range of 8,010 to 8,030. Support levels are likely to be found around 7,995 and 7,970, with resistance points at 8,050 and 8,075. The overall trend is expected to show a modest positive bias, driven by strength in resources and financial sectors.
Sectors to Watch
Mining and Resources
Mining stocks are likely to see a boost, with key companies such as BHP, Rio Tinto, and Fortescue Metals potentially benefiting from the strong prices for iron ore. The positive movement in global commodities is expected to support these stocks, contributing to the early gains in the ASX 200.
Energy
Energy companies, including Woodside Energy and Santos, are also expected to perform well, driven by stable oil prices. The energy sector’s strength adds to the overall optimism in the market as global demand for energy remains robust.
Banking
The financial sector remains a key driver for the ASX 200, with major banks like Commonwealth Bank, NAB, and Westpac showing resilience. Stable earnings outlooks for these banks are likely to provide strong support to the broader index, adding to the overall positive sentiment in the market.
Healthcare
Healthcare stocks, particularly CSL and ResMed, could see defensive buying interest in the context of a broader market rotation. This sector is often seen as a safe haven during times of uncertainty, adding further diversification to the expected positive trend.
