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Highlights
- ASX closed with a 0.56% gain, boosted by Utilities and IT sectors.
- Notable gains for West Gold Resources Ltd and Telix Pharmaceuticals Ltd.
- Small caps like Yandal Resources Ltd saw significant intra-day highs.
The ASX closed 0.56% higher on Monday, finishing the day at 8,164.6 points, marking a positive session as Utilities and Information Technology sectors saw notable gains. However, despite this gain, the index remains 2.62% below its 52-week high, with the previous week’s performance showing a decline of 0.57%.
Top Performers and Highlights
West Gold Resources Ltd led the gains, surging by 3.55% to close at $3.21 per share. The company achieved an impressive milestone in its drilling efforts at the Bluebird-South Junction complex. The recent exploration at the Polar Star Lode uncovered a 13-metre intercept with a high grade of 18 grams per tonne of gold, a development adding momentum to its stock performance. Another notable gainer was Telix Pharmaceuticals Ltd (ASX:TLX), which rose by 3.33% to reach $22.16.
In contrast, Mineral Resources Ltd (ASX:MIN) experienced a downturn, declining by 9.23% to end at $36.86. Boss Energy also trended downward, with shares closing at $3.19. These declines contributed to a mixed performance within the Energy and Materials sectors, which both ended the day approximately 0.5% lower.
Sector-wise Performance
Overall, nine out of the eleven ASX sectors recorded gains, with Utilities leading the way at 2.18%, supported by strong performances in Information Technology at 1.78% and Industrials at 1.71%. This rise in Utilities indicates robust demand within essential services, while Technology stocks continue to benefit from investor confidence in innovation-driven growth.
Small Cap Standouts
Among the smaller cap stocks, Yandal Resources Ltd (ASX:YRL) saw a strong session, with shares climbing 25.81% intra-day to reach $0.39, marking a new high for the past two and a half years. This surge in Yandal’s stock reflects increasing interest from the market in promising smaller players.
Additional notable movements in the small cap segment included Altech Chemicals Ltd, which peaked at 26.1% higher to $0.058, and Kali Metals Ltd (ASX:KM1), which rose by 18.52% to an intra-day high of $0.16. Other companies experiencing gains included Asian Battery Metals PLC (ASX:AZ9), which closed 13.65% above Friday’s level at $0.10, Novo Resources Corporation, up by 10% to $0.11, and Jindalee Lithium Ltd (ASX:JLL, OTCQX:JNDAF), which gained 6.67% to finish at $0.24.
The ASX’s performance on Monday highlights a blend of sector-driven strength, led by Utilities and Information Technology, alongside diverse movement among large and small cap stocks. As sectors continue to display varied results, the market remains dynamic with opportunities across different industries.
