Buying in Academic and Educational Services Sector Helped Australian Indices

On 8th July 2021, the broader Australian market was helped by the buying pressure witnessed on academic and educational services sector. ASX 20 rose by 0.23% to 4,129.60. Also, ASX 200 increased by 0.20% to 7,341.40.

Data Source: ASX; Table Source: Copyright © 2021 Kalkine Media

ASX Midcap 50 Outperformed Rest of Indices:

ASX 200 Index reached 7,341.40, implying a growth of ~24.00% in 1 year. ASX Midcap 50 Index and ASX Small Ordinaries Index managed to settle at 8,989.70 and 3,369.20 points, respectively.

S&P/ASX 200 vs S&P/ASX Midcap 50 Index vs ASX Small Ordinaries Index – Performance Over One Year

Gainers and Losers:

In the release dated 7th July 2021, Magellan Financial Group Limited (ASX: MFG) released funds under management as well as performance fee update. For the June quarter, the company witnessed net outflows amounting to $351 Mn, that comprised of net retail outflows of $260 Mn as well as net institutional outflows of $91 Mn.

On 8th July 2021, Zip Co Ltd. (ASX: Z1P) rose by 13.73%.

Data Source: ASX; Table Source: Copyright © 2021 Kalkine Media 

Movement on Wall Street:

On 7th July 2021, NASDAQ Composite increased 0.01% to 14,665.06. Notably, Dow Jones Industrials Average rose 0.30% to 34,681.79.

Note: The reference data in this article has been partly sourced from REFINITIV

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