ASX 200 market wrap: top trades from the day

We examine some of the best and worst trades on the ASX 200 today, as well as the price action of oil and iron ore.

ASX 200: sector by sector performance

Though equities started the week on shaky ground – with the ASX 200 tumbling on coronavirus concerns – the blue-chip index has rebounded since then, and currently trades ahead of those early-week lows.

Today the ASX 200 rallied 30 points – or 0.39% – to close out the session at the 6976 mark.

The Information Technology sector was the best performing of the day, with the XIJ index up 2.1%.

The Materials sector was the next best performing – up 1% by the market close.

By comparison, Utilities (XUJ) was the worst performing sector today – with that index dropping 0.8% or 66 points by the end of trade.

Australia’s largest utilities stocks: APA Group and AGL Energy, both suffered modest share price losses today.

Do you own ASX shares? You can hedge your downside risk by trading CFDs now.

Commodity prices in focus

Looking at the price action of commodities, we see that iron ore, oil (WTI & Brent) and rhodium all rose today.

Unsurprisingly, oil prices have struggled over the last week, as concerns over falling Chinese oil demand ripple through global markets.

And though oil has risen today, on Monday Bloomberg noted that: ‘China oil demand is said to have plunged 20% on virus lockdown.’

Tellingly, WTI Crude currently trades around the US$50 per barrel mark. Just a month ago by comparison, on 6 January, it traded at the ~US$60 per barrel mark.

Secondly, and looking at more in-depth commentary concerning the price movements of iron ore, yesterday, Metals Market Index (MMi) analysts commented that:

‘Heavy rainfall in Brazil continued to keep the iron ore shipments at low levels. DCE iron ore futures market continued falling though not as sharply. Mills and traders remain broadly out of the market, watching carefully.’

Trading close to US$80 per tonne – iron ore is now well off its mid-2019 highs.

In step with today’s modest rise in iron ore prices however, Fortescue Metals Group (ASX: FMG) – Australia's largest pure-play iron ore miner – saw its share price rise 0.45% today.

Best and worst performing ASX stocks

The top performing stocks on the ASX 200 today were Orocobre (ASX: ORE) +18.95%, Pilbara Minerals (ASX: PLS) +11.29%, CIMIC (ASX: CIM) +9.80%, WiseTech (ASX: WTC) +8.98% and Nearmap (ASX: NEA) +7.44%.

By comparison to those top performing stocks, Resolute (ASX: RSG) declined 4.55%, Regis (ASX: RRL) fell 4.31%, and M Pharma (ASX: MYX) dropped 3.33% – making up the ASX 200’s worst performing equities for the day.

Practise trading Australian stocks with an IG demo account now


The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.

Act on share opportunities today

Go long or short on thousands of international stocks with CFDs.

  • Get full exposure for a comparatively small deposit
  • Trade on spreads from just 0.1%
  • Get greater order book visibility with direct market access

See opportunity on a stock?

Try a risk-free trade in your demo account, and see whether you’re on to something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off

See opportunity on a stock?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Trade a huge range of popular stocks
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See opportunity on a stock?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.