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ASX Market Update 2022-03-16

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SP/ASX 200 rose 1.1% (+78.2 pts), closed at 7175 points, crossed above MA20 (7116 pts).

Among the 150 largest-cap stocks, 115 (77%) closed higher. 62% of all ASX stocks ended higher.

In terms of sectors, all sectors were up with gains from 0.3% to 4.7%. 5 sectors outperformed the market. The market was up 1.2%; Technology was up 4.7%, the best performer, reflecting a more aggressive market sentiment; Energy was up 0.3%, but already the worst performer.

● ZIMPLATS (ZIM) largely fell -3.3% (-$0.85), closed at $25.3, fell 6 days in a row. The worst performer with a slight increase in volume.

● TPG TELECOM (TPG) largely rebounded 3.5% (+$0.19), closed at $5.66, the best % gain in 2 months, is testing MA20 ($5.68). The largest increase in volume.

● CORPORATE TRAVEL MANAGEMENT (CTD) surged 5.3% (+$1.13), closed at $22.62, crossed above MA20, MA50 and MA200 ($22.2, $22.02, $22.34). The best performer with a slight increase in volume.

● CONTACT ENERGY (CEN) largely retreated -3.2% (-$0.25), closed at $7.5, crossed below MA20 and MA200 ($7.55, $7.52).

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