iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Australia Market inches up ahead of Fed decision

2 Nov 2022 , 04:28 PM

Australia stock market finished session marginally higher on Wednesday, 02 November 2022, as investors adopted a wait-and-see attitude ahead of a major policy decision by the US Federal Reserve. The Federal Reserve will conclude its latest policy meeting later in the day, with traders hoping for a hint from officials that they are ready to temper the speed of monetary tightening. At closing bell, the benchmark S&P/ASX200 index was up 9.80 points, or 0.14%, to 6,986.66. The broader All Ordinaries index added 8.25 points, or 0.12%, to 7,177.80. The top performing stocks in S&P/ASX200 index were CORONADO GLOBAL RESOURCES INC. and PERPETUAL, up 8.8% and 5.5% respectively. The bottom performing stocks in S&P/ASX200 index were DOMINOS PIZZA and CROMWELL, down 5.3% and 4.8% respectively. Shares of materials and energy companies advanced on tracking rebound in commodity prices. Mining heavyweights BHP Group, Fortescue Metals Group and Rio Tinto rose between 1.7% and 3%. Energy sector major Woodside Energy advanced about 3%, while Santos climbed 2.2%. Lithium miner Lake Resources jumped 5.2% after saying it had completed the onsite construction of a modular processing demonstration plant for its Kachi lithium project in Argentina. Financials bucked the trend, with the three of the countrys big four banks National Australia Bank, ANZ Banking, and Westpac adding between 0.2% and 0.7%. Commonwealth Bank was down 0.1% even as the lender said it would hike its loan variable interest rates by 25 basis points per annum from the end of next week, in line with the Reserve Banks interest rate increase.Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.