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ASX Market Update 2023-01-30

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SP/ASX 200 slightly fell -0.2% (-12.3 pts), closed at 7482 points.

Among the 150 largest-cap stocks, 74 (49%) closed higher. 50% of all ASX stocks ended higher.

In terms of sectors, 5 sectors closed up, 7 sectors closed down, ranging from -1.5% to 3%. 5 sectors outperformed the market. The market was down -0.1%; Technology was up 3%, the best performer, reflecting an increasing risk appetite; Healthcare was down -1.5%, the worst performer.

● NEXGEN ENERGY (CANADA) (NXG) rebounded 2.2% (+$0.14), closed at $6.59, crossed above MA20 and MA50 ($6.52, $6.48). The largest increase in volume.

● LYNAS RARE EARTHS (LYC) jumped 6.9% (+$0.63), closed at $9.71, the best % gain in nearly 6 months, also a 110-day high. The best performer with a significant increase in volume.

● PALADIN ENERGY (PDN) spiked 6.8% (+$0.055), closed at $0.86, a 49-day high.

● CHAMPION IRON (CIA) plunged -7.1% (-$0.55), closed at $7.2, the worst % loss in 3 months, also a 23-day low, crossed below MA20 ($7.65). The worst performer with a significant increase in volume.

● RESMED (RMD) largely retreated -6.8% (-$2.29), closed at $31.36, the worst % loss in more than 29 months, crossed below MA20, MA50 and MA200 ($31.76, $32.36, $32.09).

● MAYNE PHARMA GROUP (MYX) plummeted -6.4% (-$0.22), closed at $3.2, a 2728-day low.

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