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ASX Market Update 2022-08-25

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SP/ASX 200 rose 0.7% (+50.1 pts), closed at 7048 points, crossed above MA20 (7032 pts).

Among the 150 largest-cap stocks, 103 (69%) closed higher. 58% of all ASX stocks ended higher.

In terms of sectors, 9 sectors closed up, 2 sectors closed down, 1 sector remained unchanged, ranging from -2.2% to 1.8%. 5 sectors outperformed the market. The market was up 0.6%; Real Estate was up 1.8%, the best performer; Utilities was down -2.2%, the worst performer.

● NINE ENTERTAINMENT CO (NEC) jumped 9% (+$0.18), closed at $2.18, the best % gain in nearly 1.5 years, also a 59-day high, crossed above MA20 ($2.08). The best performer with a huge increase in volume.

● QUBE (QUB) surged 8.5% (+$0.23), closed at $2.94, the best % gain in more than 27 months, also a 52-day high, crossed above MA20 and MA50 ($2.76, $2.77).

● NEXGEN ENERGY (CANADA) (NXG) jumped 8.1% (+$0.46), closed at $6.13, rose 3 days in a row, the best % gain in more than 1 month, crossed above MA20 ($5.86).

● IDP EDUCATION (IEL) spiked 7.5% (+$2), closed at $28.8, the best % gain in nearly 6 months, also a 96-day high, crossed above MA20 ($27.86). The largest increase in volume.

● DOMINO’S PIZZA ENTERPRISES (DMP) largely retreated -9.5% (-$6.89), closed at $65.26, the worst % loss in 6 months, also a 44-day low, crossed below MA20 and MA50 ($70.95, $69.98). The worst performer with a significant increase in volume.

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