Capital Market | | Last Updated at August 10 2021 14:50 IST
The Australian share market eked out modest gains on Tuesday, 10 August 2021, as 7 of 11 sectors ended higher along with the S&P/ASX 200 Index, led by shares in information technology, telecommunication services, consumer discretionary and financials which helped to cancelling losses in industrials and energy stocks.
At closing bell, the benchmark S&P/ASX200 was up 24.15 points, or 0.32%, to 7,562.56. The broader All Ordinaries added 26.13 points, or 0.33%, to 7,830.41.
Tech stocks were among the top gainers, with buy now, pay later pioneer Afterpay leading gains with a 3.2% rise.
Shares of financials were higher, with National Australia Bank up 0.2 percent after the lender said it would buy Citigroup’s Australian consumer business for a total cost of $1.2 billion.Commonwealth Bank of Australia rose 1.5%, extending a four-day winning streak, ahead of its annual results on Wednesday,
Energy stocks were broadly lower, with Origin Energy, Oil Search and Santos declining 1-2 percent, dragged down by decline in crude oil prices. Oil prices fell as much as 4% on Monday, extending last week’s steep losses on a rising U.S. dollar and concerns that Delta variant-related restrictions in Asia could slow a global recovery in fuel demand.
Shares of James Hardie Industries rose 5.8% to hit a record high after fibre cement maker raised annual profit forecast range, supported by a booming U.S. housing market.
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CURRENCY NEWS: The Australian dollar changed hands at $0.7339, below levels above $0.735 seen yesterday.
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Source: https://www.business-standard.com/article/news-cm/australia-market-ekes-out-modest-gains-121081000982_1.html
