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ASX Market Update 2023-01-12

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SP/ASX 200 rose 1.2% (+85.4 pts), closed at 7280 points, a 23-day high.

Among the 150 largest-cap stocks, 112 (75%) closed higher. 64% of all ASX stocks ended higher.

In terms of sectors, 11 sectors closed up, 1 sector closed down, ranging from -1.1% to 1.4%. 4 sectors outperformed the market. The market was up 1%; Basic Materials was up 1.4%, the best performer; Utilities was down -1.1%, the worst performer.

● PILBARA MINERALS (PLS) soared 4.5% (+$0.18), closed at $4.16. The best performer but with average volume.

● NEXGEN ENERGY (CANADA) (NXG) surged 4.3% (+$0.28), closed at $6.75. The largest increase in volume.

● MERIDIAN ENERGY (MEZ) largely fell -4.1% (-$0.2), closed at $4.69, crossed below MA20 ($4.87). The worst performer with a huge increase in volume.

● NEW HOPE (NHC) largely fell -3.6% (-$0.22), closed at $5.92, fell 3 days in a row.

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