ASX 200 opens higher; materials, energy, tech gain

October 04, 2022 11:11 AM AEDT | By Ashish

ASX 200 opens higher; materials, energy, tech gain — Image source: © Stbernardstudio | Megapixl.com

Highlights

The Australian share market opened higher on Monday.

The ASX 200 rose sharply today, gaining 134.10 points or 2.08% to 6,591.00 at the open.

Over the last five days, the index has gained 1.46%.

The Australian share market opened higher on Monday after Wall Street rose sharply overnight, with all three major stock market indices rising over 2%. On the other hand, domestic investors would be closely awaiting the monetary policy rate decision from the Reserve Bank of Australia (RBA), scheduled to be announced later in the day.

The ASX 200 rose sharply today, gaining 134.10 points or 2.08% to 6,591.00 at the open. Over the last five days, the index has gained 1.46%, but is down 11.47% on a year-to-date (YTD) basis.

While the All-Ordinaries index was trading 2.054% higher at 6,793.1, the volatility index fell 5.26% to 20.118. On Monday, the benchmark index closed 0.27% lower at 6,456.9 points.

In the first 15 minutes of trade, the ASX 200 was trading 2.17%, or 140 points higher at 6,596.90.

On Wall Street, the Dow Jones rose 2.6%, the S&P 500 surged 2.59%, and the NASDAQ stormed 2.27% higher. The MSCI world equity index climbed 1.95%.

In Europe, the Stoxx 50 rose 0.77%, the FTSE surged 0.22%, the CAC soared 0.55%, and the DAX ended 0.79% higher.

Market action

After the first half-an-hour, the benchmark index ASX 200 was trading 2.12%, or 137 points higher at 6,593.90. The materials sector rose 2.7%, energy gained 2.4%, and tech soared 2% in a broad rally at the open.

Sims shed the most, while Gold Road gained the most.

Data Source: ASX (as of 4 October 2022, 11 AM AEST)

Newsmakers

Washington H Soul Pattinson has agreed to extend an AU$35-million term loan facility to Electro Optic System.
AVA Group announced that Mal Maginnis would take over as CEO on 9 January 2023.

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