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ASX Market Update 2022-01-21

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SP/ASX 200 largely fell -2.3% (-166 pts), closed at 7176 points, a 163-day low, fell -2.9% (-218 pts) for the week, fell 2 weeks in a row, crossed below MA200 (7323 pts).

Among the 150 largest-cap stocks, 8 (5%) closed higher. Only 17% of all ASX stocks ended higher, the least for 4 months.

In terms of sectors, all sectors were down with losses from -1.4% to -3.5%. 6 sectors outperformed the market. The market was down -2.4%; Consumer Defensive was down -1.4%, but already the best performer, reflecting a decreasing risk appetite; Basic Materials was down -3.5%, the worst performer.

● BORAL (BLD) rose 2.1% (+$0.12), closed at $5.86, the best % gain in more than 1 month, rose 1.4% (+$0.08) for the week after a 2-week losing streak. The best performer today but with average volume.

● BRAINCHIP HOLDINGS (BRN) plunged -11.6% (-$0.23), closed at $1.755, the worst % loss in 15 months, rose 17% (+$0.255) for the week, rose 4 weeks in a row. The worst performer today but with average volume.

● INFRATIL (IFT) plunged -4.5% (-$0.34), closed at $7.3, fell 3 days in a row, the worst % loss in 10 months, also a 92-day low, fell -4.8% (-$0.37) for the week, is testing MA200 ($7.29). The largest increase in volume today.

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