ASX 200 to open with a huge gap up of 105 points 

Source: ImageFlow,Shutterstock

Summary

  • ASX 200 is expected to open by a massive gap up of around 105 points of 1.6 per cent. 
  • Bitcoin has been trading in a range for a while now and is currently up by 2.7 per cent to US$50,249. 
  • Gold miners such as Newcrest Mining Limited (ASX:NCM) could try to rebound from lower levels. 

On Friday, ASX 200 closed the session down by 0.74 per cent or almost 50 points. Today, the Australian market is set to open the second week of March on a positive note. The ASX 200 is expected to open by a huge gap up of around 105 points of 1.6 per cent. 

Today’s positive opening has followed the bullish sentiments across the global markets. On Friday, the US markets closed the session with an unexpected reversal after an entire week of weak sentiments. The down Jones closed 1.85 per cent up at 31496.3. The S&P500 was also up by 1.95 per cent while NASDAQ gained 1.55 per cent. 

Image Source: © Shimanovicha | Megapixl.com

The confident buying from investors has also lowered the volatility index, and CBOE VIX declined by 13.69 per cent. THE ASX 200 VIX was up by 1.91 per cent in the last trading session. 

The Australian dollar continued to fall and closed 0.59 per cent lower at 0.7675. 

Bitcoin has been trading in a range for a while now and is currently up by 2.7 per cent to US$50,249. 

Crude oil gains momentum 

Crude oil has been on a remarkable rally since November last year. On Friday, oil prices continued to surge, and WTI crude oil surpassed the US$66 mark, giving a closing at US$66.26 per barrel after gaining 3.54 per cent. 

Energy players such as Santos Limited (ASX:STO) and Beach Energy Limited (ASX:BPT) could lead the day. 

Image Source: © Djbobus | Megapixl.com

Gold stabilises  

After a continuous fall, Gold tried to hold its ground and has closed mildly up by 0.32 per cent to US$1703.1 an ounce. Gold miners such as Newcrest Mining Limited (ASX:NCM) could try to rebound from lower levels. 

READ MORE: Bitcoin Stays Below $50,000 As Worries Over Digital Yuan Resurface

Tech shares rebound 

After a challenging week for the tech shares across the globe as economic revival is coming into the picture, today, this sector may show some recovery after a strong closing of tech-heavy NASDAQ in the US. Shares such as Afterpay Limited (ASX:APT) and Zip co (ASX:Z1P) may do well today. 

READ MORE: EU To Ask the US to Export AstraZeneca/Oxford Vaccine: Report

 

 


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