ASX Closes Higher as Supermarket Stocks Shine Amid Regulatory Update

2 min read | March 21, 2025 05:53 PM AEDT | By Team Kalkine Media

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ASX Closes Higher as Supermarket Stocks Shine Amid Regulatory Update

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Highlights

ASX ends the day in positive territory despite early losses

Woolworths and Coles rally after key competition report

Miners struggle as U.S. policy weighs on resource outlook

The Australian share market managed to finish in the green on Thursday, with the benchmark ASX 200 closing 0.17% higher at 7,932.1 points. Gains in consumer staples, particularly supermarket heavyweights, helped offset weakness across the mining and energy sectors.

A key driver behind the market’s resilience was the strong performance of Woolworths (ASX:WOW) and Coles (ASX:COL), which surged 6.32% and 4.85% respectively. The lift followed the conclusion of a year-long investigation by Australia’s competition watchdog, the ACCC, into supermarket pricing. While the inquiry led to several recommendations aimed at increasing competition, it stopped short of enforcing any major structural changes, such as breaking up large supermarket chains. The findings appeared to reassure investors, who pushed both stocks higher on the day.

Meanwhile, the mining sector faced significant headwinds. A U.S. policy move aimed at boosting domestic production of critical minerals weighed on Australian resource stocks. Liontown Resources (ASX:LTR) fell 5.71%, Pilbara Minerals (ASX:PLS) dropped 5.13%, and South32 (ASX:S32) lost 2.49%. Coal miners were similarly affected, with New Hope Corporation (ASX:NHC), Whitehaven Coal (ASX:WHC), and Yancoal Australia (ASX:YAL) all closing lower.

Uranium stocks had a mixed session. Paladin Energy (ASX:PDN) declined 3.95% after reporting that heavy rain had temporarily suspended operations at its Langer Heinrich mine in Namibia. However, competitors Boss Energy (ASX:BOE) and Deep Yellow (ASX:DYL) gained 6.67% and 2.72% respectively, making them some of the session's top performers.

In corporate news, Domain Holdings (ASX:DHG) ended flat after confirming no updated takeover offer had been received from U.S.-based CoStar. Parent company Nine Entertainment (ASX:NEC) inched up 0.63% after reports surfaced of ongoing talks around a potential sale of its 60% stake in Domain.

Elsewhere, Premier Investments (ASX:PMV) climbed 3.85% despite posting a 34% drop in first-half profit, with management acknowledging tough retail conditions. Still, there were signs of improvement in recent trading. Emerald Resources (ASX:EMR) lost 3.85% as it revealed that quarterly production from its Cambodian mine would fall short due to site access issues.

Across the sectors, six of eleven ended in positive territory, led by consumer staples, while materials and energy sectors weighed on the index.

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