The Market Movers || Where does Tech Sector standing today?

This is the market movers show where we take you through the Top 5 ASX gainers of the day  . lets have a look at the top 5 ASX gainers of the day:

• The online retail stock Kogan.com Ltd surged over 5.5% to the intra-day high of A$10.69. The stock rose after the company provided additional insights into its Q3 results which caused the stock to dip by 17% last week. Kogan provided answers to nine questions asked by the ASX related to revenue, profit, EBITDA, and others. Kogan.com Ltd stock has fallen nearly 50% year-to-date.

• The stock of the integrated services company Downer EDI Ltd surged over 5% to the day’s high of A$5.62. The shares urged after the company announced a share buyback earlier today. Downer plans to buy back up to 70.1 million shares, or 10% of shares on issue, via on-market transactions. Downer EDI Ltd shares touched near 10-week high, climbing by their most since 15 February 2021.  

• The stock of Australia’s country’s largest listed apartment and townhouse developer Mirvac Group Ltd jumped nearly 5% to the day’s high of A$2.68 amid strong performance by the property sector.  Mirvac earlier today also raised its full-year earnings guidance by about 7% on account of robust residential sales in the March quarter. Mirvac Group also said that it has a strong momentum leading into the final quarter. 

• The stock of the company which provides data used for the development of machine learning and artificial intelligence products Appen Ltd jumped over 4% to A$15.92. The technology stock has gained even as tech sector lost nearly 0.6% in the intra-day trade today.  The rate-sensitive stock was expected to have gained after Australia’s quarterly inflation data came under expectations.

• The insurance stock QBE Insurance Group Ltd gained over 3% to the day’s high of A$9.54. The gains in financial sector were led by QBE. There was no major positive update released by the company to the ASX today.  However, the insurance broker Steadfast Group earlier today upgraded its full-year guidance on a strong first nine months of 2020-21. 


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK