From WTC to SQ2: Why these tech stocks closed in green on Wednesday?

3 min read | July 20, 2022 06:39 PM AEST | By Ritwika

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From WTC to SQ2: Why these tech stocks closed in green on Wednesday? — Image source: Image source: © Skypixel | Megapixl.com

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Highlights:

The S&P/ASX 200 index closed in green on Wednesday, and all the major 11 sectors ended strong.

The S&P/ASX 200 Information Technology sector was the leading sector.

The S&P/ASX 200 index (INDEXASX:XJO) ended strong by gaining 1.648% or 109.6 points to 6,759.20 points on the ASX on 20 July 2022. All the 11 sectors under the S&P/ASX 200 index closed in the green territory.

The best performing sector was the Information Technology sector. The S&P/ASX 200 Information Technology sector (INDEXASX:XIJ) closed at 1490.7 points after marking a gain of 3.766% or 54.1 points on the ASX.

Here, we talk about four leading ASX-listed tech stocks - WiseTech, Xero, Altium, and Block. Buoyed by the performance of the IT sector, these companies have also closed in the green.

WiseTech Global Limited (ASX:WTC)

The shares of the tech giant WiseTech Global Limited (ASX:WTC) buzzed in the green territory and closed 5.603% higher on the ASX (20 July). WiseTech’s share price stood at AU$47.49 per share by the end of trading session on the ASX.

WiseTech’s shares have performed significantly well on the ASX in the last one year. The software company’s share price marked a gain of around 56% on the ASX in the past 12 months. However, WiseTech’s share price declined approximately 21% on a YTD basis on the ASX today (20 July).

Xero Limited (ASX:XRO)

The shares of the accounting software developer Xero Limited (ASX:XRO) closed in the green territory today. The share price was quoted at AU$87.64 per share up 5.934% up.

Xero’s shares performed poorly on the ASX over the past 12 months. The stock lost almost 37% in last twelve months and lost 40% on Y-T-D-basis.

Altium Limited (ASX:ALU)

ASX-listed sales software developer Altium Limited (ASX:ALU) shares closed 2.203% strong at AU$29.68 per share on the ASX (20 July). As per a recent update from the company, Altium is likely to release its FY22 results on 22 August 2022.

The shares of Altium marked a loss of almost 10% on the ASX in the last 12 months. On the other hand, Altium’s Y-T-D based share price also declined by almost 34% on the ASX (20 July).

Block Inc (ASX:SQ2)

Global fintech company Block Inc (ASX:SQ2) shares buzzed in the green territory and closed 4.370% stronger on the ASX (20 July). Block’s share price stood at AU$100.3 per share at the end of trading session on the ASX.

Block’s share price marked a loss of 43.21% in last one year.

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