End of Day Report – Tuesday 9 July: ASX200 Up 67 points in a Broad Market Rally

Market Updates

The ASX 200 has finished the day up 67 points (+0.86%) to 7830 in a broad rally covering all sectors. Telecom finished on top thanks to Telstra’s 2.2% rise. Phone plan price increases announced from August. REA, CAR, and TPG joining in. Up 2.2%, 0.7% and 1.1%, respectively. Financials were next best as the CBA hit a record high, up 1.8%. WBC, NAB and ANZ up between 1.4% and 2%. Interest rate sensitive sectors strong. REITs played catch up to the weekend’s drop in bond yields. SCG and SGP up 1.3% and 1.2%. WTC and NXT leading tech higher. Up 1.8% and 1.7%. Powell’s commentary tonight at the senate banking committee will be closely watched. Discretionary stocks mixed. ALL up 1.7%, and JBH down 0.1%. Unperturbed by a drop in Consumer Sentiment. Health Care in the middle of the pack, and Staples up 0.33%, defensives underperforming.
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