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ASX Market Update 2023-01-31

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SP/ASX 200 slightly fell -0.07% (-5.3 pts), closed at 7477 points, rose 6.2% (+438 pts) for the month.

Among the 150 largest-cap stocks, 62 (41%) closed higher. 36% of all ASX stocks ended higher.

In terms of sectors, 3 sectors closed up, 7 sectors closed down, 2 sectors remained unchanged, the market internal was more negative, ranging from -2.1% to 1.9%. 6 sectors outperformed the market. The market was down -0.2%; Consumer Defensive was up 1.9%, the best performer, reflecting a decreasing risk appetite; Technology was down -2.1%, the worst performer.

● NEXGEN ENERGY (CANADA) (NXG) surged 4.4% (+$0.29), closed at $6.88, a 31-day high, rose 3.5% (+$0.23) for the month. The best performer today with a significant increase in volume.

● WOOLWORTHS GROUP (WOW) largely rebounded 3.8% (+$1.31), closed at $36.08, the best % gain in 19 months, also hit a YTD high, rose 7.5% (+$2.52) for the month, crossed above MA200 ($35.18).

● ALLKEM (AKE) largely retreated -7.5% (-$1.05), closed at $12.98, the worst % loss in 2 months, rose 15.5% (+$1.74) for the month. The worst performer today with a slight increase in volume.

● IGO (IGO) tanked -7.1% (-$1.11), closed at $14.57, fell 3 days in a row, the worst % loss in more than 2 months, rose 8.2% (+$1.11) for the month, crossed below MA20 and MA50 ($14.6, $14.76).

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