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Highlights
- A new 100-day high for ASX 200 was noted at market close on 1 February 2023.
- The ASX 200 was up, gaining 0.33% to 7,501.70.
- Over the past five days, ASX 200 has gained 0.45%.
- Top performers of the day included Flight Centre Travel (ASX:FLT), James Hardie Industries (ASX:JHX) and Imugene Limited (ASX:IMU).
Starting February 2023 on a higher note, ASX stocks witnessed a green start to today’s trade session after overnight gains witnessed on Wall Street. At market close on 1 February 2023, the ASX 200 was up, gaining 25 points or 0.33% to 7,501.70The index set a new 100-day high and is currently 1.61% off its 52-week high.
ASX stocks that made waves
Topping the gainers’ list was travel agency Flight Centre Travel Group (ASX:FLT) which successfully finished an institutional placement, raising AU$180 million to support the acquisition of Scott DunnFLT traded up by over 8% at AU$17.11 a shareOther gainers of the day were James Hardie (ASX:JHX), Imugene (ASX:IMU), Sandfire Resources Limited (ASX:SFR), and Alumina Limited (ASX:AWC).
On the flip side, Pinnacle Investments (ASX:PNI) was the top decliner today, stock down over 7%Other ASX shares in the red zone today comprised Paladin Energy (ASX:PDN), Telix Pharmaceuticals (ASX:TLX), Megaport Limited (ASX:MP1) and Iress Limited Group (ASX:IRE).
ASX 200 sectoral performance
ASX shares climbed to their highest point seen in monthsEight of 11 sectors traded in the greenMaximum gains were seen across the real estate sector, gaining +1.46% and + 2.12% for the past five daysFollowing suit were the materials, healthcare, telecommunication services, industrials, and consumer staples and discretionaryIn the red zone, energy topped the list, followed by utilities, and information technology.
Image source- Pixabay
Other markets today
Overnight, Wall Street witnessed a boost- The S&P 500 rose 1.5% to 4,076.60The Dow Jones Industrial Average climbed 1.1% to 34,086.04The Nasdaq was up 1.7% to 11,584.55.
In other parts of the world, European markets ended flat, and stock markets in Asia were mostly lowerAhead of Budget Day, Indian equity benchmarks BSE Sensex and NSE Nifty 50 opened higher.
Economic indicators
A recent report by the International Monetary Fund (IMF) indicates that the worldwide economy might slow this year before rebounding in the nextThe battle against inflation, coupled with Russia’s war in Ukraine is likely to weigh on actionAs per the IMF, global growth will slow from 3.4% in 2022 to 2.9% in 2023, then rebound to 3.1% in 2024.
However, the outlook is less gloomy than IMF’s October forecastEconomic growth proved unexpectedly resilient in the third quarter of last year, and inflation showed improvement, opines IMF in its recent blogThe blog further suggests that China and India will likely be key growth engines this year.
