The share market today

Expert commentary on today’s stock market from Michael McCarthy (Chief Market Strategist, CMC Markets).

Take backs

A quiet night of trading following the ructions of the previous session leaves Australian investors in a quandary.  An opening gain to take back some of yesterday’s disproportionate losses is likely. Investors must answer the question; is this the end of selling, or the beginning of a significant down leg?

In the absence of leads from other markets investors could exercise caution, potentially erasing any early rise. Calm currency and commodity markets also offer little guidance, with the exception of further falls in oil prices. There are also no significant data releases due today.

Overall sentiment will become clearer as regional markets come on line. Yen strength usually means Nikkei weakness, so investors will treat falls in Tokyo as a given. Opening moves in Singapore, Shanghai and Hong Kong are potentially better indicators of the market mood and today’s closing levels.

In Sydney the focus could fall on sectors and stocks. A clear preference for defensive stocks and safe havens yesterday may mean financials and resource stocks again underperform. Sigma Pharmaceuticals announced a 5.3% increase in annual profit and a 3 cent dividend, both slightly below forecasts. An increased buyback program may ease investor angst.

You can read more commentary and analysis on the CMC Markets blog.

Compare Online Share Trading Platforms

Top 5 winners and losers of the ASX 200 last week

Top 5 Winners and Loser of the ASX 200 (13/03/2017 to 20/03/2017)
Winners Losers
Rank  Company Change (%) Rank  Company Change (%)
1 Evolution Mining Ltd Star Stock 17.8 1 Sky Network -6.1
2 Galaxy Resources 17.8 2 Ardent Leisure Group Ordinary/Units FP Stapled Securities -5.8
3 Resolute Mining 14.3 3 Isentia Group Ltd -5.7
4 Northern Star 11.5 4 Eclipx Group Ltd -5.4
5 Saracen Mineral 11.3 5 Spotless Group HLD Ltd -4.6

Share this article

Enjoyed reading this article?

Sign up to receive more news like this straight to your inbox

By subscribing you agree to the Canstar Privacy Policy.

Thanks for signing up!

Good things are coming your way.

Other newsletters you might like.