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ASX Market Update 2024-05-07

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SP/ASX 200 rose +1.4% (+111 pts), closed at 7793 points, rose 4 days in a row, the best % gain in 3 months, crossed above MA50 (7720 pts).

Among the 150 largest-cap stocks, 131 (87%) closed higher. 65% of all ASX stocks ended higher.

In terms of sectors, all sectors were up with gains from +1% to +3.2%. 3 sectors outperformed the market. The market was up +1.5%; Technology was up +3.2%, the best performer; Healthcare was up +1%, but already the worst performer.

● PALADIN ENERGY (PDN) spiked +8.4% (+$1.32), closed at $16.96, rose 7 days in a row, the best % gain in nearly 4 months, also hit a record high. The best performer with a significant increase in volume.
360miq.com/stockinfo?code=PDN.AX

● AGL ENERGY (AGL) jumped +7.4% (+$0.69), closed at $10.01, the best % gain in nearly 3 months, also hit a YTD high, crossed above MA200 ($9.58).
360miq.com/stockinfo?code=AGL.AX

● CONTACT ENERGY (CEN) largely fell -4.2% (-$0.33), closed at $7.6, the worst % loss in 3 months, crossed below MA20 and MA50 ($7.75, $7.67). The worst performer with the largest increase in volume.
360miq.com/stockinfo?code=CEN.AX

360miq.com/market?data=ASX#tab-3

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