How Australian Market Performed on 28 January 2020?

  • Jan 28, 2020 AEDT
  • Team Kalkine
How Australian Market Performed on 28 January 2020?

The equity market of Australia was in red at the close of session on 28th January 2020 with the benchmark index, S&P/ASX200 experiencing a decline of 96 points or 1.4% and settling at 6994.5. Moving towards the performance of some sectors, which performed in line with the benchmark index. S&P/ASX 200 Energy (Sector) stood at 11,556.3 with a fall of 344.3 points or 2.98%. S&P/ASX 300 Metals and Mining (Industry) experienced a decline of 127.4 points and ended the session at 4,576.5. At the close of the trading session, All Ordinaries stood at 7098.4 with a fall of 104.8 points.

Let us now look at some ASX-listed companies, which performed very well despite the fall in overall market. Costa Group Holdings Limited (ASX: CGC) inched upward by 4% and stood at A$2.860 per share. Saracen Mineral Holdings Limited (ASX: SAR) ended the session at a closing price of A$3.870 per share with a rise of 3.476%.

Moving towards the gainers and losers at NZX Main Board. Smartpay Holdings Limited (NZX: SPY) advanced further by 5.66% and closed the session at NZ$0.560, becoming a top performer on NZX. Mercer Group Limited (NZX: MGL) inched upward by 3.92% and closed at NZ$0.265 per share. Some of the losers during the session included New Talisman Gold Mines Limited (NZX: NTL), which witnessed a fall of 12.50% and settled at NZ$0.007 and PaySauce Limited (NZX: PYS), which stood at NZ$0.600 per share, down by 10.45% on an intraday basis.

Previously, we covered an article with important information on Kaiser Reef Limited (ASX: KAU). To read, please click here.

SAR Achieves Group Production of 120,127oz in December 2019 Quarter

Saracen Mineral Holdings Limited (ASX: SAR) recently notified the market with quarterly activities report for the December 2019 quarter, highlighting record quarterly gold production of 120,127 ounces at All in Sustained cost (AISC) amounting to A$1,098 per ounce.

During the quarter, gold sales stood at 117,575 ounces at an average sale price amounting to A$2,034 per ounce, thereby enabling the company to generate revenue of A$239 million.

Post payment of US$750 million for 50% of the Super Pit gold mine in Kalgoorlie, payment of A$10 million for Sinclair, equity raising of A$796 million, drawing an amount of A$400 million in the form of debt as well as early debt repayment of A$15 million, the cash and equivalents of the company stood at A$283.8 million as at 31 December 2019.

Northern Star Resources Limited Closes in Green; Stock Price Up 3.093%

Northern Star Resources Limited (ASX: NST) is set to release its activities report for the December 2019 quarter on 29th January 2020.

In an ASX update, the company announced to have successfully wrapped up the acquisition of 100 percent (all shares) in Kalgoorlie Lake View Pty Ltd, which accounts for a 50 percent interest in KCGM (Kalgoorlie Consolidated Gold Mines Pty Ltd).

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