Interdum stultus opportuna loquitur...

Wednesday, July 20, 2005

OzRant: Orgasmic First Hour, Then...

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The broad market - the ASX All Ordinaries - rose by 23.50 points (0.55%), finishing at 4263.30 points. The index hit an intraday high just before 3 p.m. Sydney time at 4269.90 points (6 points below the all-time high) and its low of 4239.8 was set at the open.

After the initial opening orgasm (where the All Ords was above 4260 after less than an hour's trade), the market went absolutely nowhere for the rest of the session - imagine how John Howard would look if his weekly orders from Washington failed to arrive... that's how indecisive it was.

Total volume traded on the ASX was solid - a tad over a billion units: that's 10.6% above its 10-day average. Of the 483 stocks in the All Ords index, 199 rose while 146 fell. All Ords Volume was tilted in favour of the gainers by a margin of 1.6:1, with 223.43 million shares traded in gainers and 136.50 million shares traded in the day's losers. Broader volume - the entire market - was tilted a little under 1.4:1 in favour of the gainers. the further out the market cap spectrum you move, the worse things looked... circling the wagons again.

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 - rose by 24.90 points (0.58%), finishing at 4301.20 points. Today the ASX200 topped out at under 3310 - just under 12 points shy of its previous record high.

The "heavy hitters" of the Australian market - the ASX 20 Leaders - rose by 17.70 points (0.77%), finishing at 2311.20 points. It also topped today just 5 points short of its prior record high. Within the index members, there were 12 that rose, and 6 losers. Total volume in rising issues within the ASX20 amounted to 57.9m shares while volume in the losers totalled 21.53m units.

The major winners in the "big guns" were -

  • Woodside Petroleum (WPL), +$1.20 (4.16%) to $30.04 on volume of 3.07m shares;
  • BHP Billiton (BHP), +$0.45 (2.47%) to $18.65 on volume of 16.7m shares; and
  • Alumina (AWC), +$0.12 (2.19%) to $5.60 on volume of 3.76m shares; and
  • Rio Tinto (RIO), +$0.92 (2.03%) to $46.13 on volume of 3.04m shares; and
  • Coles Myer Ltd (CML), +$0.15 (1.6%) to $9.50 on volume of 4.91m shares.

The following stocks made up the biggest percentage losers in the big-guns:

  • Amcor (AMC), -$0.06 (0.87%) to $6.80 on volume of 2.34m shares;
  • St George Bank (SGB), -$0.14 (0.54%) to $25.96 on volume of 1.05m shares; and
  • Commonwealth Bank Of Australia (CBA), -$0.12 (0.31%) to $38.45 on volume of 2.09m shares; and
  • AMP Limited (AMP), -$0.02 (0.3%) to $6.63 on volume of 7.09m shares; and
  • Westfield Group (WDC), -$0.02 (0.12%) to $17.17 on volume of 4.03m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index rose by 13.40 points (0.57%), finishing at 2379.30 points. The major winners in the "pop-guns" were -

  • Sirtex Medical (SRX), +$0.115 (7.35%) to $1.680 on volume of 40,000 shares;
  • Lynas Corporation (LYC), +$0.010 (7.14%) to $0.150 on volume of 172,000 shares; and
  • Funtastic (FUN), +$0.110 (5.64%) to $2.060 on volume of 464,000 shares; and
  • Excel Coal (EXL), +$0.330 (4.63%) to $7.460 on volume of 729,000 shares; and
  • Sydney Gas Ltd (SGL), +$0.020 (4.44%) to $0.470 on volume of 825,000 shares.

The losingest-little-guys for the session were (in order of decline):

  • Alesco Corporation (ALS), -$0.240 (3.1%) to $7.510 on volume of 228,000 shares;
  • Capral Aluminium (CAA), -$0.055 (2.89%) to $1.845 on volume of 83,000 shares; and
  • Sino Gold (SGX), -$0.050 (2.86%) to $1.700 on volume of 13,000 shares; and
  • Schaffer Corporation (SFC), -$0.150 (2.65%) to $5.500 on volume of 3,000 shares; and
  • Mosaic Oil (MOS), -$0.005 (2.63%) to $0.185 on volume of 3.85m shares.
Index Changes
CodeNameClose+/-%Volume
XAOAll Ordinaries4263.323.50.55%516.97m
XTLS&P/ASX 202311.217.70.77%99.93m
XFLS&P/ASX 504249.1270.64%199.23m
XTOS&P/ASX 1003496.520.10.58%321.8m
XJOS&P/ASX 2004301.224.90.58%416.67m
XKOS&P/ASX 3004293.224.60.58%0
XMDS&P/ASX Mid-Cap 504137.39.40.23%0
XSOS&P/ASX Small Ordinaries2379.313.40.57%145.71m

All Ordinaries Market Internals

Market Breadth

ASX20XTOXJOXAOXSOMarket
Advances125110119985489
Declines6336114660380
Advancing Volume57.9m169.92m216.03m223.43m43.43m480.32m
Declining Volume21.53m88.14m104.25m136.5m40.73m372.87m

S&P/ASX200 GICS Sector Indices

The top sector for the day was Energy which gained 2.44% to 9639.10 points. The sector was helped by

  • Woodside Petroleum (WPL), +$1.200 (4.16%) to $30.040 on volume of 3.07m shares;
  • Roc Oil Company (ROC), +$0.070 (3.37%) to $2.150 on volume of 483,000 shares; and
  • Santos (STO), +$0.350 (3.29%) to $11.000 on volume of 1.49m shares; and
  • Arc Energy (ARQ), +$0.050 (2.75%) to $1.870 on volume of 1.61m shares; and
  • Oil Search (OSH), +$0.070 (2.18%) to $3.280 on volume of 10.47m shares.

Second in the sector leadership stakes was Materials which gained 1.69% to 7487.50 points. The sector leaders were -

  • Excel Coal (EXL), +$0.330 (4.63%) to $7.460 on volume of 729,000 shares;
  • James Hardie Industries N.V. (JHX), +$0.300 (3.55%) to $8.750 on volume of 3.36m shares; and
  • Paperlinx (PPX), +$0.100 (3.13%) to $3.300 on volume of 6.19m shares; and
  • BHP Billiton (BHP), +$0.450 (2.47%) to $18.650 on volume of 16.7m shares; and
  • Alumina (AWC), +$0.120 (2.19%) to $5.600 on volume of 3.76m shares.

The bronze today went to Consumer Staples which gained 0.86% to 5612.50 points. The sector was led by

  • Coles Myer Ltd (CML), +$0.150 (1.6%) to $9.500 on volume of 4.91m shares;
  • Foster's Group (FGL), +$0.070 (1.29%) to $5.500 on volume of 8.52m shares; and
  • Woolworths (WOW), +$0.120 (0.76%) to $15.920 on volume of 3.1m shares; and
  • Burns, Philp & Company (BPC), +$0.005 (0.55%) to $0.915 on volume of 1.47m shares; and
  • Futuris Corporation (FCL), +$0.010 (0.49%) to $2.070 on volume of 1.92m shares.

The worst-performed sector today was Property Trusts which lost 0.46% to 1777.00 points. The sector was dragged lower by

  • Multiplex Group (MXG), -$0.060 (2.04%) to $2.880 on volume of 1.92m shares;
  • Bunnings Warehouse Property Trust (BWP), -$0.035 (1.86%) to $1.850 on volume of 249,000 shares; and
  • Macquarie Ddr Trust (MDT), -$0.020 (1.7%) to $1.155 on volume of 4.6m shares; and
  • Valad Property Group (VPG), -$0.020 (1.48%) to $1.335 on volume of 1.63m shares; and
  • Thakral Holdings Group (THG), -$0.010 (1.32%) to $0.745 on volume of 96,000 shares.

Just in front of last place on the sector table was Utilities which lost 0.37% to 4986.90 points. The sector was pulled down by

  • Alinta (ALN), -$0.120 (1.22%) to $9.710 on volume of 552,000 shares;
  • Diversified Utility And Energy Trusts (DUE), -$0.020 (0.81%) to $2.460 on volume of 798,000 shares;
  • Energy Developments (ENE), -$0.030 (0.74%) to $4.010 on volume of 105,000 shares;
  • Envestra (ENV), -$0.005 (0.44%) to $1.135 on volume of 629,000 shares; and
  • Australian Pipeline Trust (APA), -$0.010 (0.26%) to $3.770 on volume of 93,000 shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XEJEnergy9639.1229.22.44%26.8m
XMJMaterials7487.5124.51.69%109.41m
XSJConsumer Staples5612.548.10.86%36.84m
XHJHealthcare5327.628.50.54%9.99m
XNJIndustrials510621.60.42%40.12m
XXJASX200 Financials ex Property Trusts5206.111.70.23%58.74m
XDJConsumer Discretionary2264.150.22%24.2m
XFJFinancials5081.63.90.08%137.12m
XIJInformation Technology378.900%2.79m
XTJTelecommunications1788.4-2-0.11%22.27m
XUJUtilities4986.9-18.4-0.37%3.61m
XPJProperty Trusts1777-8.2-0.46%82.4m

All Ordinaries Major Movers

All Ords Volume Leaders
CodeNameClose+/-%Volume
DYLDeep Yellow0.130.018.33%30.19m
TLSTelstra Corporation5.0400%19.64m
BHPBHP Billiton18.650.452.47%16.7m
NDONido Petroleum0.120.019.52%14.39m
LHGLihir Gold1.240.032.06%12.61m
DRTDB Rreef Trust1.380.010.73%12.7m


All Ords Percentage Gainers
CodeNameClose+/-%Volume
SRXSirtex Medical1.680.127.35%39887
AMLAmrad Corporation0.450.035.88%192260
FUNFuntastic2.060.115.64%463827
CMICmi1.520.085.56%67313
EXLExcel Coal7.460.334.63%728947


All Ords Percentage Decliners
CodeNameClose+/-%Volume
ADAAdacel Technologies0.25-0.03-9.26%252165
IHGIntellect Holdings0.024-0.002-7.69%2.65m
UNWUnwired Group0.47-0.04-7%1.76m
SEDSedimentary Holdings0.2-0.02-6.98%254600
CBHCBH Resources0.25-0.01-3.92%1.25m

Elsewhere in the Region...

Regional Indices
CountryNameClose+/-%Volume
New ZealandNZSE503319.73611.890.36%35.63m
JapanNikkei 22511789.3524.510.21%0
KoreaKOSPI1074.4-1.08-0.1%954767
SingaporeStraits Times2323.930.981.35%0
Hong KongHang Seng14625.4257.680.4%221.15m
MalaysiaKLSE Comp924.097.310.8%0