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ASX Market Update 2022-10-07

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SP/ASX 200 fell -0.8% (-55.2 pts) after a 3-day winning streak, closed at 6763 points, rose 4.5% (+289 pts) for the week after a 3-week losing streak.

Among the 150 largest-cap stocks, 32 (21%) closed higher. 39% of all ASX stocks ended higher.

In terms of sectors, 1 sector closed up, 11 sectors closed down, ranging from -1.8% to 0.9%. 5 sectors outperformed the market, the market internal was more negative. The market was down -0.8%; Energy was up 0.9%, the best performer; Real Estate was down -1.8%, the worst performer.

● BORAL (BLD) fell -1.4% (-$0.04), closed at $2.86, rose 7.1% (+$0.19) for the week, rose 2 weeks in a row, is testing MA50 ($2.86). The largest increase in volume today.

● STANMORE RESOURCES (SMR) surged 9.6% (+$0.23), closed at $2.62, the best % gain in nearly 2 months, also an 84-day high, rose 21.3% (+$0.46) for the week after a 2-week losing streak. The best performer today with a huge increase in volume.

● ILUKA RESOURCES (ILU) tumbled -6.3% (-$0.63), closed at $9.33, the worst % loss in 3 months, rose 3% (+$0.27) for the week after a 3-week losing streak, crossed below MA20 and MA50 ($9.63, $9.71). The worst performer today with a significant increase in volume.

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