Market Update: Performance of Australian Markets on 27th March 2020.

  • Mar 27, 2020 AEDT
  • Team Kalkine
Market Update: Performance of Australian Markets on 27th March 2020.

The equity market of Australia ended the trading session in red on 27th March 2020. The benchmark index S&P/ASX200 fell by 270.9 points and settled at 4842.4. Notably, S&P/ASX 200 Health Care (Sector) experienced a sharp fall of 2940.9 points to 38,487.6 during the session. S&P/ASX 200 Materials (Sector) stood at 10,517.5, reflecting a decline of 4.86%. At the end of same trading day, All Ordinaries went down by 5.08% to 4874.2.

Let us now look at the performance of some companies on ASX. ALS Limited (ASX: ALQ) inched up by 5.479% and ended at $5.390 per share. WiseTech Global Limited (ASX: WTC) experienced a rise of 5.072% and settled at $14.500 per share.

S&P/NZX50 witnessed a fall of 0.71% and closed at 9,557. AWF Madison Group Limited (NZX: AWF) increased by 21.00% to NZ$1.210 per share. Burger Fuel Group Limited (NZX: BFG) settled the session at NZ$0.300 with a gain of 20.00%. On the other hand, Smartpay Holdings Limited (NZX: SPY) tumbled 10.00% and ended at NZ$0.315 per share.

Recently, we have written an article on Boadicea Resources Ltd (ASX: BOA), which is a Australia-based mineral exploration company and readers can click here to view information.

ALS Limited Ended in Green on Australian Stock Exchange

ALS Limited (ASX: ALQ) recently provided a market update regarding the strength of its balance sheet and management of an impact of COVID-19. The release stated that, as part of the conservative and prudent capital management plan, it has taken precaution to draw down sufficient funds from the existing bank facilities in order to meet maturation of around AUD$245 million US Private Placement (or USPP) debt tranche, which is due at the calendar year 2020 end.

The company’s key personnel has stated that the safety of its people happens to be the key priority and the company has been following strict guidelines aligned with advice of the public health authorities to minimise risk of the infection as well as transmission of COVID-19.

WiseTech Global Limited Rose by 5.072% on March 27, 2020

WiseTech Global Limited (ASX: WTC) recently released its results for 1H FY20. The company continued to deliver high quality growth in 1H FY 2020 and its revenues rose by 31% to $205.9 million while EBITDA increased by 29% to $62.5 million. The company added that it has been investing to grow. In the span of previous 5 years alone, it has deployed more than $360 million towards product innovation, and has added 3,500 product enhancements to the global platform.

The company posted NPATA amounting to $33.5 million, which reflects an increase of 22% and has also declared interim dividend (fully franked) amounting to 1.70 cents per share. It is expecting FY 2020 revenue to be in the range of $420 million - $450 million and EBITDA between $114 million - $132 million.           


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