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ASX Market Update 2022-07-28

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SP/ASX 200 rose 1% (+66.7 pts), closed at 6890 points, rose 3 days in a row, a 32-day high, crossed above MA50 (6818 pts).

Among the 150 largest-cap stocks, 106 (71%) closed higher. 74% of all ASX stocks ended higher, the most in more than 20 months, good for the market.

In terms of sectors, all sectors were up with gains from 0.1% to 3.2%. only 2 sectors outperformed the market. Boosting by Technology and Basic Materials, The market was up 1.2%; Technology was up 3.2%, the best performer, reflecting a more aggressive market sentiment; Healthcare was up 0.1%, but already the worst performer.

● MINERAL RESOURCES (MIN) spiked 9% (+$4.41), closed at $53.21, the best % gain in 28 months, also a 29-day high, crossed above MA50 and MA200 ($51.99, $50.9). The best performer with a significant increase in volume.

● NEXGEN ENERGY (CANADA) (NXG) jumped 7.7% (+$0.42), closed at $5.9, crossed above MA20 ($5.59).

● YANCOAL AUSTRALIA (YAL) tanked -10.9% (-$0.62), closed at $5.07, the worst % loss in more than 4 months, crossed below MA20 and MA50 ($5.41, $5.5). The worst performer with the largest increase in volume.

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