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ASX Market Update 2022-05-12

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SP/ASX 200 largely fell -1.8% (-124 pts), closed at 6941 points, a 71-day low.

Among the 150 largest-cap stocks, 14 (9%) closed higher. Only 21% of all ASX stocks ended higher.

In terms of sectors, 1 sector closed up, 11 sectors closed down, ranging from -12% to 0.3%. 7 sectors outperformed the market. The market was down -2.2%; Utilities was up 0.3%, but already the best performer, reflecting a more risk-averse market; Technology plunged -12%, the worst performer.

● NEXGEN ENERGY (CANADA) (NXG) fell -1.9% (-$0.11), closed at $5.69, fell 4 days in a row, a 59-day low. The largest increase in volume.

● ORICA (ORI) soared 4.7% (+$0.73) after a 4-day losing streak, closed at $16.4, the best % gain in nearly 2 months, crossed above MA20 ($16.24). The best performer with a huge increase in volume.

● BLOCK (SQ2) tanked -17.6% (-$21.35), closed at $99.9, fell 5 days in a row, hit a record low. The worst performer with a significant increase in volume.

● ALTIUM (ALU) largely retreated -16.7% (-$5.05), closed at $25.2, the worst % loss in nearly 121 months, also hit a YTD low.

● XERO (XRO) plunged -11.6% (-$10.07), closed at $76.9, the worst % loss in nearly 1 year, also hit a YTD low.

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