Sydney’s stock market experienced a significant rally on Tuesday, with gains across sectors such as Utilities, Gold, and Consumer Discretionary driving the S&P/ASX 200 index up by 1.44% at the close of trading.
Among the top performers on the S&P/ASX 200 index were AGL Energy Ltd (ASX:AGL), which saw a notable increase of 7.51%, followed by Star Entertainment Group Ltd (ASX:SGR) and Domain Holdings Australia Ltd (ASX:DHG), which recorded gains of 5.75% and 5.47%, respectively.
Conversely, Omni Bridgeway Ltd (ASX:OBL), Sims Metal Management Ltd (ASX:SGM), and Bapcor Ltd (ASX:BAP) were among the worst performers of the session, experiencing declines during trading hours.
The overall market sentiment was positive, with rising stocks outnumbering declining ones on the Sydney Stock Exchange. However, some stocks, such as Omni Bridgeway Ltd (ASX:OBL) and Sims Metal Management Ltd (ASX:SGM), reached multi-year lows, reflecting specific challenges faced by these companies.
The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, experienced a decrease, indicating reduced market volatility.
In commodities trading, gold futures saw a slight decline, while crude oil prices experienced minor fluctuations.
Currency markets saw the Australian dollar holding steady against the US dollar, while the US Dollar Index Futures recorded a slight increase.
Overall, the rally in Australia’s stock market reflects positive investor sentiment and suggests optimism about economic recovery and growth prospects.