Australian stocks demonstrated positive momentum on Monday, with the S&P/ASX 200 closing higher, driven by notable gains in the Gold, IT, and A-REITs (Australian Real Estate Investment Trusts) sectors.
At the close in Sydney, the S&P/ASX 200 recorded a 0.73% increase, reaching a new 1-month high.
Among the session’s top performers on the S&P/ASX 200, Star Entertainment Group Ltd (ASX:SGR) showed significant strength, rising by 7.84% or 0.04 points, closing at 0.55. Perseus Mining Ltd (ASX:PRU) and Alumina Ltd (ASX:AWC) also delivered positive results, adding 5.41% and 4.93%, respectively.
Conversely, the session saw some decliners, with Healius Ltd (ASX:HLS) experiencing a 4.40% drop, closing at 1.52. Origin Energy Ltd (ASX:ORG) and Codan Ltd (ASX:CDA) also faced declines, with drops of 3.91% and 3.82%, respectively.
Market dynamics on the Sydney Stock Exchange revealed that rising stocks outnumbered declining ones, with 704 gaining, 561 declining, and 372 remaining unchanged.
The S&P/ASX 200 VIX, a measure of the implied volatility of S&P/ASX 200 options, increased by 5.56%, reaching 10.23.
In commodities trading, Gold Futures for February delivery rose by 0.85% or 17.70 to $2,107.40 per troy ounce. Meanwhile, Crude oil for January delivery experienced a 0.59% decrease, closing at $73.63 a barrel, and the February Brent oil contract fell by 0.66%, reaching $78.36 a barrel.
In currency markets, AUD/USD remained unchanged at 0.67, while AUD/JPY fell by 0.15% to 97.70.
The US Dollar Index Futures showed a modest uptick of 0.07%, closing at 103.27. Investors will be monitoring these developments as the week progresses, assessing the impact of various market factors on the Australian stock market.