Market Update: Overview of Performance Of Australian Markets

  • Oct 21, 2019 AEDT
  • Team Kalkine
Market Update: Overview of Performance Of Australian Markets

As the market players are aware, performance of broader Australian markets is expected to be influenced by the health of global economy. Also, performance of global markets can influence the performance of Australian equities. Any sort of economic uncertainties that could have an unfavourable impact on Australian economy can also weigh over the performance of Australian markets. We would now have a quick look at the market performance.

On October 21, 2019, S&P/ASX200 ended the session in green, as the index witnessed a rise of 2.8 points to finally close at 6652.5. On the other hand, All Ordinaries closed the session in red, as there was a fall of 0.7 points to end at 6757.7. We would now have a look at how individual stocks performed on ASX.

Inghams Group Limited (ASX: ING) ended the session in green, as the stock price witnessed a rise of 3.767% and finally closed at A$3.030 per share. On the other hand, WiseTech Global Limited (ASX: WTC) and Treasury Wine Estates Limited (ASX: TWE) ended the session in red, as the share price of these stocks fell by 12.333% and 11.828%, respectively. As per ASX, the market capitalisation of TWE stood at A$13.39 billion.

We have written some important information on the stocks and that information can be useful for investors. Therefore, we advise the readers to have a quick look at the same. We have written about Imugene Limited (ASX: IMU) and the investors can have a look at it by clicking here. We have also covered Greenland Minerals Limited (ASX: GGG) and the investors can have a look at the information provided by clicking here.

Recent Update About Stockland: What Investors Need to Know

Stockland (ASX: SGP) released its first quarter market update for the FY 2020 period on October 21, highlighting improvement with regards to residential sales, increase in comparable retail MAT growth and continued up-weighting in logistics. Also, there was progress with respect to the commercial property development pipeline. The company’s document also contained the viewpoints of Managing Director and Chief Executive Officer (or CEO). It was added that the company maintained the disciplined focus towards strategy execution. It was also mentioned that the number of defaults is moderating, and default rate is anticipated to decline over balance of the financial year.

On October 21, 2019, the company’s Chairman Tom Pockett announced the appointment of Kate McKenzie to the Board, which would be effective from December 2, 2019.

We would now have a look at how the stock of SGP performed on Australian Securities Exchange (or ASX). On October 21, 2019, the stock of SGP ended the session in green, as the stock price witnessed a rise of 6.494% on an intraday basis to end the session at A$4.920 per share.

SGP Daily Technical Chart (Source: Thomson Reuters)

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