How was your Monday?
We can't believe it's March already!
Great trading day for PEAK's portfolio company Netccentric Ltd (ASX:NCL) as the stock rallied to a high of $0.30 in today's session.
Good to see strong post-market demand following last week's heavily oversubscribed placement…
A combination of steadying bond markets, more positive COVID-19 vaccine news, and easing inflation fears have helped drive the ASX to its biggest one-day percentage increase since 9 November, and biggest jump in points since 5 October, 2020.
The broad based gains saw the S&P/ASX 200 gain 116.3 points to close 1.7 per cent higher at 6789.6 points.
While the materials and energy sectors lagged at the start of they day, they soon caught up to the party, closing 0.3 per cent and 1.9 per cent higher respectively.
The best performing sector on the ASX was real estate, up 3.2 per cent, driven by a 4.1 per cent rise in Goodman Group and 5.5 per cent rise in Stockland.
Information technology jumped 3 per cent higher, helped into a recovery position by a strong Nasdaq performance on Friday and futures pointing to more gains overnight.
Healthcare gained 2.6 per cent and financials gained 2 per cent.
The best performing stock was Austal, up 8.4 per cent to $2.57 after announcing a new $300 million deal with the US Navy, plumbing supplier Reece gained 7 percent, and Clinuvel Pharma 6.5 per cent.
The biggest decline was Fortescue, down 5.9 per cent after going ex-dividend, followed by falls in gold mining stocks like Ramelius Resources, Silver Lake, and Northern Star.