- ASX 200 is trading up by 0.16% to 7074.7 (as at 10:29 AM AEDT).
- During the early trading session, all broader market indices such as ASX 20, ASX 50 and ASX 100 are trading in the positive territory.
- SIMS Limited is leading at the forefront today, delivering a double-digit return of 10.03%, trading at A$16.75.
The ASX 200 has continued its last week’s momentum. The benchmark index is up by 0.16% to 7074.7, its highest level in the last 14 months. The positive start of the week has been attributed to strong global cues.
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On Friday, the Dow Jones closed the session up by 0.48% while the S&P 500 was up by 0.36%, with both the indices closing at record highs. The NASDAQ was up by a mere 0.1% but was in sync with the overall positive trend of the US markets.
As investors are gaining confidence and taking the benchmark index higher, the ASX 200 VIX index which gauges the volatility of the Australian stock market has also moved higher. As of 10:29 AM AEST, the VIX index is trading 7.8% lower at 12.43.
During the early trading session, all broader market indices are trading in the positive territory. The ASX 20, ASX 50 and ASX 100 are all up - by 0.2%, 0.17% and 0.18%, respectively.
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Out of all 11 sectors, 10 sectors are trading up for the day, depicting a very strong market breadth. The losing sector during the opening session is the Energy sector which is down by 0.64%. Energy producers could trade lower for the rest of the day as crude oil continues to lose momentum. Currently, Brent crude is down by 0.54% to US$66.36, after losing 0.13% on Friday.
The leading sector for the day is the Utilities sector which is up by 0.65%, followed by Financials gaining 0.26%. The information technology sector is trading almost flat with a slight uptick of 0.03%.
SIMS Limited (ASX:SGM) dazzles at the forefront today, delivering a double-digit return of 10.03%, trading at A$16.75. The company has provided its guidance for the full FY21. It is expecting Underlying EBIT for full year FY21 to be between $260 million and $310 million.