Market report: ASX hits 100-day high as energy stocks lead gains
Published: 01:00 30 Jan 2025 EST
Proactive’s Tylah Tully gives a market wrap for January 30.
The ASX closed 0.55% higher at 8,493.7 points, marking a new 100-day high. Over the past five days, the index gained 1.37% and is currently 0.26% below its 52-week high.
Among the top-performing stocks, Karoon Energy rose 7.72% to $1.53 following its quarterly report.
The company reported a Net Revenue Interest basis of 2.59 million barrels of oil equivalent, a 3% decline from the previous quarter.
However, Q4 sales volumes increased by 53%, generating sales revenue of $222.2 million USD.
On the downside, Zip Co shares dropped 25% to $2.44 despite reporting record Total Transaction Volume of $3.4 billion in its quarterly update, supported by strong holiday trading.
All sectors ended higher, with Energy leading at a 1.2% gain, followed by Consumer Discretionary, up 1.11%.
In the small caps sector, Lightning Minerals peaked at 9.1 cents, an increase of 21.34%, Tryptamine Therapeutics gained around 20% and Yandal Resources rose 12% to 17.5 cents per share.
