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ASX Large Caps: ASX sets record high to start 2024 as energy leads gains

  • ASX closes higher on the first trading day of 2024 finishing at record high
  • Energy leads the markets higher with all sectors in green except real estate
  • Energy stocks top big cap gainers including Boss Energy  and Yancoal Australia 

 

The S&P ASX200 is up for the first day of 2024 trading, closing 0.47% higher and setting a new 100-day high of 7,626.50 points. Over the past five trading days, the index has gained 1.66% and is currently 0.08% off its 52-week high.

The ASX was able to shake off a 0.3% drop in Friday’s S&P 500, buoyed by a modest uptick in US futures. While at lunch time all sectors were in the green, by close real estate had fallen into the red to end down 0.54%.

Commonwealth Bank (ASX:CBA) was up 1.4% today to set a new record high of $113.36, while Super Retail Group (ASX:SUL)Ventia Services (ASX:VNT) and Viva Energy (ASX:VEA) were also among stocks to hit record highs in trade today.

Energy was leading the market higher followed by discretionary and financials. Healthcare, staples and utilities  were also off to a strong 2024 start.

 

Source: Market Index

 

The Aussie bourse was feeling optimistic following a weekend national address from China’s President Xi Jinping, who committed to boosting economic growth and employment following a challenging year.

Jinping emphasised China’s focus on reinforcing the progress in economic recovery and pursuing stable, sustained economic development.

 

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
BOE Boss Energy Ltd 4.27 6% 1,908,703 $1,631,564,312
YAL Yancoal Aust Ltd 5.2 5% 2,254,123 $6,536,175,213
WHC Whitehaven Coal 7.76 4% 2,902,574 $6,224,309,833
AGL AGL Energy Ltd 9.8 3% 1,817,644 $6,377,643,769
NHC New Hope Corporation 5.315 3% 1,768,228 $4,361,930,994
NIC Nickel Industries 0.715 3% 2,279,462 $2,978,637,867
CIA Champion Iron Ltd 8.625 3% 675,947 $4,348,153,048
AIZ Air New Zealand 0.6 3% 759,553 $1,970,551,624
PDN Paladin Energy Ltd 1.01 3% 12,430,984 $2,938,624,900
JBH JB Hi-Fi Limited 54.35 2% 381,214 $5,797,981,012
APM APM Human Services 1.255 2% 1,035,118 $1,123,547,884
LTR Liontown Resources 1.69 2% 4,347,073 $3,996,274,846
AWC Alumina Limited 0.925 2% 3,906,625 $2,626,021,682
LNK Link Admin Holdings 2.225 2% 1,040,341 $1,125,724,709

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Energy stocks were all higher as the sector rose today. Leading the gainers was Boss Energy (ASX:BOE), Yancoal Australia (ASX:YAL) and Whitehaven Coal (ASX:WHC). 

AGL Energy (ASX:AGL), New Hope Corp (ASX:NHC) and Paladin Energy (ASX:PDN)  were also on today’s winners list.

 

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
ABG Abacus Group 1.115 -3% 396,753 $1,027,706,278
ASK Abacus Storage King 1.0975 -3% 311,671 $1,484,936,347
BAP Bapcor Limited 5.385 -3% 511,475 $1,880,345,250
SQ2 Block 113.86 -2% 71,484 $4,096,665,158
GMD Genesis Minerals 1.7475 -2% 1,345,405 $1,968,753,986
EMR Emerald Res NL 2.94 -2% 1,091,566 $1,877,427,189
BWP BWP Trust 3.455 -2% 267,912 $2,267,614,825
IAG Insurance Australia 5.545 -2% 3,064,788 $13,592,803,366
LTM Arcadium Lithium PLC 10.99 -2% 221,953 $7,202,474,974
CHC Charter Hall Group 11.815 -2% 408,057 $5,694,886,276
MGF Magellan Global Fund 1.875 -2% 563,020 $2,705,813,126
WPR Waypoint REIT 2.4 -2% 354,072 $1,639,232,375
WGX Westgold Resources. 2.145 -2% 594,729 $1,032,497,551
MAQ Macquarie Technology 67.55 -1% 4,947 $1,668,799,571
IEL IDP Education Ltd 19.745 -1% 559,429 $5,575,074,306

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Abacus Group (ASX:ABG) and its spinoff Abacus Storage King (ASX:ASK) were both on the losers list today on no specific news.

However, ABG recently announced that seven investment properties, or 37% of the group’s portfolio by number, have been externally valued as at December 31 2023.

Preliminary draft valuations (including both internal and external valuations)  resulted in a total estimated decrease of $140 million, being a 6.5% decrease on prior book values for the six months to 31 December 2023.

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