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ASX Market Update 2022-03-08

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SP/ASX 200 fell -0.8% (-58.7 pts), closed at 6980 points, fell 3 days in a row, a 25-day low.

Among the 150 largest-cap stocks, 52 (35%) closed higher. Only 30% of all ASX stocks ended higher.

In terms of sectors, 3 sectors closed up, 9 sectors closed down, ranging from -3.1% to 1.4%. 8 sectors outperformed the market. The market was down -0.9%; Healthcare was up 1.4%, the best performer; Basic Materials was down -3.1%, the worst performer.

● MERIDIAN ENERGY (MEZ) largely rebounded 6.4% (+$0.29), closed at $4.8, the best % gain in nearly 11 months, crossed above MA20, MA50 and MA200 ($4.69, $4.52, $4.7). The best performer with a slight increase in volume.

● NICKEL MINES (NIC) largely retreated -10.6% (-$0.175), closed at $1.475, the worst % loss in more than 7 months. The worst performer with a huge increase in volume.

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