Top 5 ASX gainers of the day

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Top 5 ASX gainers of the day

 Top 5 ASX gainers of the day
Image source: Sergii Sobolevskyi, Shutterstock

Summary

  • The Australian shares traded in negative territory on Wednesday as fears around a surge in inflation in the US gathered momentum.
  • Even new funds announced in the budget failed to support the market today.
  • Nearmap, CSR, and Resolute Mining are among top gainers so far.

The ASX 200 traded lower on Wednesday amid fresh concerns around inflation in the US. Australian energy stocks declined 0.74​% despite a rise in commodity prices. Financial stocks have fallen 0.54% so far during the trade. The domestic stocks have fallen in today’s trade even as the budget proposed new funds for several sectors, with an aim to help the economy recover fully from coronavirus pandemic-related challenges. Nearmap, CSR, and Resolute Mining were among top gainers so far.

                 

Here are five ASX gainers of the day:

Nearmap Ltd (ASX:NEA)

The stock of the Australian aerial imagery technology and location data company surged just over 8% to AU$1.82. The ASX’s IT sector index – ASX 200 Information Technology – was up 2% despite the ASX 200 trading down. The government’s focus on boosting Australians’ tech skills via an AU$1.2-billion investment is expected to reduce costs for Australian companies.

CSR Ltd (ASX:CSR)

The share price of the building product maker CSR Limited rose over 8% to AU$6.40 in the intra-day trade today. This is the stock’s highest mark since April 2008. The company has reported a 19% rise in a full-year net profit after tax and stated it would pay a special dividend of 9.5 cents per share. The stock has risen 13% this year so far till Tuesday’s close.

READ MORE: Is 2021 going to be a sparkling year for aluminium?

Source: © Ymgerman  | Megapixl.com

Resolute Mining Ltd (ASX:RSG)

The stock of the gold miner rose over 7% to the day’s high of AU$0.58. The gold explorer jumped in today’s trade amid continuous rise in gold prices. The gold prices gained as a softer US dollar negated losses arising by rising US Treasury yields. Spot gold increased 0.11% to US$1,837.39 an ounce, after dropping as much as 1% in the early session.

READ MORE: Dogecoin Volatile Over the Weekend; Where is the Digital Currency Heading?

Source: © Sadeq68 | Megapixl.com

READ MORE: Why investing in gold stocks can add feather to your portfolio cap

Nickel Mines Ltd (ASX:NIC)

The stock of nickel pig iron producer surged over 5% to hit the day’s high of AU$1.14. The rise was largely due to the mining stocks riding high on bullish sentiment, driven by record-high prices in metals. The stock has risen despite the company reporting disappointing results for the March quarter with massive declines across the board.

Pendal Group Ltd (ASX:PDL)

The stock of global investment and management firm soared over 4% to the day’s high of AU$7.72. The stock rose after the company announced the completion of a fully underwritten institutional placement to raise around AU$190 million, which was substantially oversubscribed with solid support from the present and new institutional investors.

For this purpose, the company shall issue approximately 27.9 million new fully paid ordinary shares at AU$6.80 per share. The funds raised from the placement would be used to partly fund the 100% acquisition of Thompson, Siegel & Walmsley LLC.

READ MORE: Here Are Three ASX Stocks With Dividend Yield Around 7%

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