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ASX Market Update 2022-08-09

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SP/ASX 200 slightly rose 0.1% (+8.8 pts), closed at 7030 points, rose 3 days in a row, a 42-day high.

Among the 150 largest-cap stocks, 99 (66%) closed higher. 57% of all ASX stocks ended higher.

In terms of sectors, 8 sectors closed up, the market internal was more positive, 4 sectors closed down, ranging from -0.6% to 2.2%. 6 sectors outperformed the market. The market was up 0.2%; Communication was up 2.2%, the best performer, reflecting an increasing risk appetite; Financial was down -0.6%, the worst performer.

● REA GROUP (REA) soared 6.7% (+$8.3), closed at $132.32, the best % gain in more than 1 month, also an 85-day high. The best performer with a significant increase in volume.

● NICKEL INDUSTRIES (NIC) largely rebounded 6% (+$0.065), closed at $1.145, the best % gain in 2 months, also a 40-day high.

● NEWS (NWS) largely rebounded 5.9% (+$1.43), closed at $25.7, the best % gain in 9 months, also a 57-day high.

● NATIONAL AUSTRALIA BANK (NAB) largely fell -2.9% (-$0.9), closed at $29.81, the worst % loss in nearly 2 months, crossed below MA20 ($29.91). The worst performer with a huge increase in volume.

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