Australia Market ends edge up

Australia stock market finished session marginally higher on Thursday, 05 January 2023, as gains in consumer discretionary, lithium and financial stocks were offset by losses in energy and tech stocks.

At closing bell, the benchmark S&P/ASX200 index surged 113.03 points, or 1.63%, to 7,059.22. The broader All Ordinaries index gained 117.96 points, or 1.65%, to 7,249.11.

More sectors ended lower than higher, despite the gain in the S&P/ASX 200 Index. Consumer Discretionary was the best performing sector, gaining 0.59%. Energy was the worst performing sector, falling 1.3%.

The top performing stocks in S&P/ASX200 index were CORE LITHIUM and PINNACLE INVESTMENT MANAGEMENT GROUP, up 7.77% and 7.03% respectively. The bottom performing stocks in S&P/ASX200 index were BRAINCHIP HOLDINGS and KAROON ENERGY, down 8.4% and 4.6% respectively.

Shares of consumer discretionary companies advanced. Domino's Pizza Enterprises was up 1.7% and IDP Education gained 1.8%. Shares in travel companies also fared well, including Flight Centre (up 3%) and Qantas (up 2.6%).

Materials stocks rose, with De Grey Mining and Newcrest Mining up 6.9 and 2.9%. Core Lithium was up 7.8% and Pinnacle Investment Management gained 7%.

Energy stocks remained in the red as gas prices fell and oil prices remained low. Woodside shed 1.8%.

CURRENCY NEWS: The Australian dollar was stood at 0.6822 against greenback on Thursday, down by 0.15% from previous trading day closure at 0.6832 after trading in the range of 0.6801-0.6845.

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