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Highlight:
- ASX rebounded with a 0.67% gain, reaching 8,305 points.
- Real Estate and Telecommunication sectors led the market surge, while Energy and Utilities lagged.
- Notable company moves include DigiCo Infrastructure REIT, PEXA, and Ventia with significant share price changes.
The ASX posted a positive turn today, up by 0.67%, closing at 8,305 points as the market saw a broad-based rally. The standout performers were in the Real Estate and Telecommunication sectors, both gaining around 1%. Meanwhile, Energy and Utilities struggled, with Energy down 0.8% and Utilities slipping 0.3%.
Sector Performance Breakdown
Several key sectors contributed to the market’s overall upward movement:
- Telecommunications, Real Estate, Financials, Industrials, and Healthcare saw gains of approximately 1%.
- Energy stood out as the weakest sector of the day, falling by 0.8%.
- Utilities also underperformed, down 0.3%.
Company Updates
- DigiCo Infrastructure REIT (ASX:DGT) made a notable comeback with a 4.65% gain after an initial lackluster performance in its first two days of trading.
- HMC Capital (ASX:HMC), a major stakeholder in DigiCo, saw a 2.8% rise, reflecting the positive sentiment around its investment.
- PEXA (ASX:PXA), the real estate firm backed by Commonwealth Bank, climbed 6.2% on the announcement of a new CEO, Russell Cohen, effective March 31.
- Ventia (ASX:VNT) rebounded by 3.9% after yesterday’s significant 9.2% drop, triggered by legal action from the ACCC concerning allegations of price-fixing.
The market's mixed sector performance and individual stock movements highlight ongoing volatility as investors continue to react to corporate news and sector-specific developments.
