S32, PLS, ZIP: Why these were most actively traded ASX shares yesterday

2 min read | July 26, 2022 04:08 PM PDT | By Ashish

S32, PLS, ZIP: Why these were most actively traded ASX shares yesterday — Image source: ©Miflippo | Megapixl.com

Highlights

The Australian share market ended higher on Tuesday.

The ASX 200 gained 0.26% during the day.

The market was buoyed by a few banks and BNPL stocks, along with energy and mining sectors.

The Australian share market ended in the green on Tuesday with the benchmark ASX 200 index rising 0.26% or 17.40 points to 6,807.30 points. Market sentiment was driven by a few banks and BNPL stocks, along with energy and mining sectors. As a result, stocks from the mining and BNPL sectors topped trading volume charts on Tuesday.

Here we see why S32, PLS and ZIP were the three most actively traded shares in terms of volume on the ASX 200 on Tuesday.

South32 Ltd (ASX:S32)

South32 is a Perth-based diversified metals & mining company. On Tuesday, over 12 million shares of the ASX-listed miner changed hands despite no price-sensitive news coming from the company. But South32 released strong production updates for the fourth quarter and full year on Monday.

South32’s CEO, Graham Kerr, was upbeat about the results. “Record annual production at Worsley Alumina, along with record quarterly production at South Africa Manganese and a strong sales result in June, capturing the benefit of high prices, capped another year of substantial progress for South32,” Kerr said.

The share price of the miner closed at AU$3.67, up 3.09% on Tuesday.

Pilbara Minerals Ltd (ASX:PLS)

Pilbara Minerals is an Australia-based lithium and tantalite mining firm. Over 14 million shares of the company were bought and sold in the market on Tuesday despite it releasing no major news this week.

Shares of Pilbara Minerals closed the day at AU$2.58, up 1.57%. In the past 12 months, the share price has risen by over 35%. The stock is down nearly 27% on a year-to-date (YTD) basis.

Zip Co Ltd (ASX:ZIP)

Zip is one of leading companies in Australia in fields of digital retail finance and payments. More than 29 million shares of the company were bought and sold in the market on Tuesday.

While there was no news from the company this week, the buy-now-pay-later firm last week released its quarterly update for three months to 30 June 2022. According to the update, the quarterly revenue of the company surged 27%. Additionally, transaction volumes rose 20% (Y-O-Y) and customer numbers rose 5.3% (Q-o-Q).

Zip’s shares closed at AU$1.02, up nearly 20% on Tuesday.

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