ASX Market Close: Energy sector leads stocks higher as Index creeps towards record territory | September 10, 2024 https://lnkd.in/daCVhZ2T
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📉📈 #MarketToday | Indian benchmark indices continued their positive momentum cheered by the #ratecuts announcement by the #US, followed by #China. ➡️ Some buzzing power stocks including #TataPower Company Ltd, #JSWEnergy Ltd and #TorrentPower Ltd are likely to remain under the spotlight of traders for the session today. Here's what analysts say 👉 https://lnkd.in/gafJayhe
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Experienced market commentator | analyst | broker | relationship manager | Freelance Digital Content Solutions
Slowly but surely oil and oil stocks are ticking higher APA US is up by +11.0% in the last 10 days, for example, and almost 96.0% of stocks in the S&P 500 Energy sector are now trading above their 5-day MA lines.
Experienced market commentator | analyst | broker | relationship manager | Freelance Digital Content Solutions
On Friday I put pen to paper on the subject of Energy (Oil) stocks and their upside potential you can see what I had to say below. As I write 100% of S&P Energy stocks are trading back above their 5D MA lines and high beta names in the sector are rebounding nicely. APA US has added almost +6.0% in the last week for example.
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Experienced market commentator | analyst | broker | relationship manager | Freelance Digital Content Solutions
Seems like an appropriate moment to repost this piece on Oil stocks after all the S&P 500 Energy sector is up by another +8.00% over the last week........
Experienced market commentator | analyst | broker | relationship manager | Freelance Digital Content Solutions
On Friday I put pen to paper on the subject of Energy (Oil) stocks and their upside potential you can see what I had to say below. As I write 100% of S&P Energy stocks are trading back above their 5D MA lines and high beta names in the sector are rebounding nicely. APA US has added almost +6.0% in the last week for example.
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🚀 Market Breakdown: ASX 200 Energy Index (XEJ) 📉📊 In today’s trading session, the ASX 200 Energy Index faced a significant decline, closing down by -5.01%. Prices have bounced back slightly from the key support level at 8,348.7, but the overall trend remains under pressure. Here are some key technical highlights: Resistance Levels: Major resistance at 10,058.8 and 10,094.0. Support Levels: Support is holding around 9,194.7 and 8,348.7. Moving Averages: The 200-day moving average and other EMAs continue to indicate downward momentum, with price action failing to cross above the pivot at 9,555.5. RSI: Currently at 44.51, approaching oversold territory, suggesting potential for a technical bounce. 💡 What’s Next? Could we be seeing a BullWalk soon, or is there more downside pressure on the horizon? Traders should watch how the index reacts to these critical levels. 📩 Want more insights like this? Click here to subscribe for free 7-day access to our daily market insights and analysis: 👉 https://lnkd.in/gxhra7gd #ASX #EnergyIndex #TechnicalAnalysis #Markets #Investing #Trading #KapitalesResearch
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Proactive’s Tylah Tully gives a market wrap for October 28. The ASX closed 0.14% higher today at 8,222 points. The index has declined by 0.73% over the past five days and remains 1.93% below its 52-week high. Zip Co saw the largest gains, rising 5.2% to $2.83 per share, despite no specific news. Whitehaven Coal followed, up 4% to $7.02. Paladin Energy dropped 15.29% to $10.36 after releasing its September quarterly report, which revealed continued production ramp-up at the Langer Heinrich Mine but noted short-term operational issues affecting ore feed, recovery rates and output. Six sectors advanced and Information Technology led with a 1.83% increase, followed by Consumer Discretionary, up 1.18%. Utilities performed the worst, down 0.69%, and Real Estate declined by 0.66%. Watch at #Proactive #ProactiveInvestors http://ow.ly/bK8z105Nakt
Market wrap October 28: ASX gains slightly amid mixed sector performance
proactiveinvestors.com.au
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Post Market Update: 03rd October 2024📊 As investors acknowledged information about the escalating geopolitical crisis in the Middle East, the Nifty 50 experienced its biggest drop in two months; and the Sensex was also deep in the red. Nifty 50 25,250.10 🔻 2.12% Sensex 82,497,544.31 🔻 2.10% Nifty Midcap 150 21,904.70 🔻 2.12% Nifty Smallcap 250 18,179.20 🔻 1.90% 📊 Market Volatility India VIX 13.17 🔺 9.84% Put Call Ratio of Nifty 50 (expiry: 03rd Oct ‘24) is 0.74 Sectoral Highlights 🏢 Nifty Realty 🔻 4.36% 🚗 Nifty Auto 🔻 2.88% 🌉 Nifty Infra 🔻 2.83% 📈 Top Gainers (in Nifty 500) Amber Enterprises 5,163.85 🔼 6.57% Petronet LNG 364.45 🔼 5.91% 📉 Top Losers (In Nifty 500) Hindustan Petroleum Corporation 415.05 🔻 6.71% JM Financial 143.75 🔻 6.62% 📰In the News BSE's share price soared by 9.70% after SEBI announced new measures to restrict trading in equity derivatives. The stock closed at +2.45%. KPI Green Energy shares rose by 2.50% following the announcement of the Chief Electrical Inspector's approval for their 5-megawatt solar power project. The stock closed at -3.00%. Transformers & Rectifiers (India) received orders worth ₹565 crore from Power Grid Corp, boosting its stock by 5% during the day. The stock closed at +3.58%. ITD Cementation India shares surged by 20% to a record high after securing a ₹1,937 crore contract for constructing a multistoried commercial building. The stock closed at +19.66%.
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In March, the ASX displayed its resilience once again as it marked a notable 3.3% increase. The major sectors contributing to these gains were property, energy and utilities. Specifically, the property sector benefited from the favourable outcome of the latest RBA meeting, where indications of potential rate cuts later in the year coupled with subdued inflation rates sparked renewed market optimism. On another front, the energy sector received a significant boost from OPEC's decision to prolong production cuts, consequently leading to a rebound in oil prices. Despite its commendable performance, the ASX found itself lagging behind the likes of the S&P500, Nikkei, and Euro markets, as these global indices surged ahead during the same period. #ASX #PersonalWealth #Money #Success
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The equity market concluded on a negative note today The equity market concluded on a negative note today, shedding over 1700 points. This significant decline was driven mainly by widespread profit taking, as investors seized the opportunity to lock in gains amid market uncertainty. Trading volumes increased to 246mn shares today as compared to 239mn shares in the previous session. Today, the KSE-100 index lost 1,722 points to close at 80,118 level, down by -2.10% DoD. Commercial Banks, Fertilizer, and Power Generation & Distribution sectors were the major laggards in today's session, cumulatively shedding 1012 points from the index.
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These are some of the best stocks in the energy sector that will grow in the future and good bets if you want to invest in the next 20 years.
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