Interdum stultus opportuna loquitur...

Friday, December 16, 2005

OzRant: Late Day Shenanigans...

Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.

Jeez those insto folks are a pack of dodgy bastards - how else do you explain the notion that the SPI has its strongest drive of the day between 4:00pm and 4:15pm (when the market is nice and this, in order to dress the windows), sets a new high at 4:18pm, closes above its cash-session high... and then opens at 5:10pm for the night session down 10 points?

Doesn't worry me none - the SPISpy-ers scalped a wee short for 5 points; the bloody SPI was 2 ticks shy of hitting the second target (9 points) at 4 p.m., when Friday 'officially' ends for the SPISpy (Friday's post-market is dodgier than a 3-dollar coin, so everyone is obliged to close out at 4 p.m.). So the final score was (5,7,7), and the unbroken string of winenrs continues. (Note to anyone who didn't close out - close out now; you'll get out with a point or two).

Major Market Indices

The broad market - the ASX All Ordinaries (XAO) - rose by 15.50 points (0.34%), finishing at 4590.90 points (although in fact at the closing bell it was under 4585 - it was only the SPI manipulation that dragged the index's sorry carcase up a few points for the settlement number - some big house must have wanted to kill a bunch of puts). 

Anyhow - of the closing print is taken as a valid number, then the index hit its intraday high at that level (4590.90) after setting its session low (just before noon, Sydney time) at 4555.2 (which I think we can call 4550-ish).

Total volume traded on the ASX was 0.83 billion units, 28.4% below its 10-day average - but the 10-day average is mighty skewed because of yesterday's massive volume in AUN. Of the 490 stocks in the index, 128 rose while 122 fell. Volume was tilted in favour of the gainers by a margin of 1.4:1, with 173.81million shares traded in gainers while 122.09million shares traded in the day's losers.

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 (XJO) - rose by 16.10 points (0.35%), finishing at 4644.00 points. Again, that closing print is dodgy-as.

The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose by 7.20 points (0.29%), finishing at 2484.70 points. Within the index members, there were 12 that rose, and 7 losers. Total volume in rising issues within the ASX20 amounted to 46.33m units while volume in the losers totalled 18.2m units.

The major winners in the "big guns" were -

  • St George Bank (SGB), +$0.860 (3.03%) to $29.260 on volume of 6m shares;
  • Woodside Petroleum (WPL), +$0.700 (1.91%) to $37.280 on volume of 1.53m shares;
  • Australia And New Zealand Banking Group (ANZ), +$0.240 (1.04%) to $23.290 on volume of 5.03m shares;
  • Westfield Group (WDC), +$0.110 (0.63%) to $17.580 on volume of 2.15m shares; and
  • Westpac Banking Corporation (WBC), +$0.100 (0.45%) to $22.380 on volume of 4.79m shares.

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

  • Macquarie Bank (MBL), -$0.680 (1%) to $67.220 on volume of 726,000 shares;
  • Rio Tinto (RIO), -$0.48 (0.76%) to $62.68 on volume of 1.31m shares;
  • BHP Billiton (BHP), -$0.15 (0.69%) to $21.54 on volume of 8.25m shares;
  • Suncorp-Metway (SUN), -$0.12 (0.61%) to $19.56 on volume of 472,000 shares;
  • Woolworths (WOW), -$0.10 (0.6%) to $16.69 on volume of 1.94m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) rose by 5.70 points (0.22%), finishing at 2583.10 points. The major winners in the "pop-guns" were -

  • Virotec International (VTI), +$0.040 (7.02%) to $0.610 on volume of 335,000 shares;
  • Zinifex (ZFX), +$0.390 (6.74%) to $6.180 on volume of 4.5m shares; and
  • Kresta Holdings (KRS), +$0.015 (6.67%) to $0.240 on volume of 147,000 shares; and
  • Agenix (AGX), +$0.015 (6.38%) to $0.250 on volume of 279,000 shares; and
  • Silex Systems (SLX), +$0.100 (4.39%) to $2.380 on volume of 90,000 shares.

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

  • Dragon Mining (DRA), -$0.025 (16.67%) to $0.125 on volume of 2.44m shares;
  • Equigold (EQI), -$0.070 (5.47%) to $1.210 on volume of 212,000 shares; and
  • Orbital Corporation (OEC), -$0.005 (4.76%) to $0.100 on volume of 31,000 shares; and
  • Integrated Group (IWF), -$0.080 (4.46%) to $1.715 on volume of 2,000 shares; and
  • Kagara Zinc (KZL), -$0.085 (4.37%) to $1.860 on volume of 417,000 shares.
Index Changes
XAOAll Ordinaries4590.915.50.34%399m
XTLS&P/ASX 202484.77.20.29%0
XFLS&P/ASX 504542.714.70.32%146.35m
XTOS&P/ASX 1003773.513.30.35%214.48m
XJOS&P/ASX 200464416.10.35%301.52m
XKOS&P/ASX 3004635.715.80.34%0
XMDS&P/ASX Mid-Cap 504716.125.10.54%0
XSOS&P/ASX Small Ordinaries2583.15.70.22%112.92m

All Ordinaries Market Internals

Market Breadth
Advancing Volume46.33m115.18m133.31m173.8132.45430.15
Declining Volume18.2m61.62m91.92m122.0951.58262.66

S&P/ASX200 GICS Sector Indices

The top sector for the day was XHJ Healthcare which gained 1.57% to 6243.40 points. The sector was helped by

  • Ansell (ANN), +$0.490 (4.75%) to $10.800 on volume of 2.19m shares;
  • Sonic Healthcare (SHL), +$0.260 (1.83%) to $14.470 on volume of 497,000 shares;
  • CSL (CSL), +$0.590 (1.47%) to $40.790 on volume of 553,000 shares;
  • Ramsay Health Care (RHC), +$0.120 (1.29%) to $9.430 on volume of 233,000 shares; and
  • Healthscope (HSP), +$0.060 (1.08%) to $5.610 on volume of 798,000 shares.

Second in the sector leadership stakes was XEJ Energy which gained 1.11% to 10808.90 points. The sector leaders were -

  • Worleyparsons (WOR), +$0.230 (2.04%) to $11.480 on volume of 353,000 shares;
  • Woodside Petroleum (WPL), +$0.700 (1.91%) to $37.280 on volume of 1.53m shares;
  • Hardman Resources (HDR), +$0.020 (1.13%) to $1.785 on volume of 1.79m shares;
  • Arc Energy (ARQ), +$0.010 (0.59%) to $1.710 on volume of 585,000 shares; and
  • Origin Energy (ORG), +$0.040 (0.55%) to $7.320 on volume of 927,000 shares.

The bronze today went toXPJ Property Trusts which gained 0.77% to 1930.70 points. The sector was led by

  • Investa Property Group (IPG), +$0.050 (2.45%) to $2.090 on volume of 2.22m shares;
  • Centro Properties Group (CNP), +$0.150 (2.34%) to $6.550 on volume of 1.2m shares;
  • Stockland (SGP), +$0.070 (1.07%) to $6.640 on volume of 4.08m shares;
  • Bunnings Warehouse Property Trust (BWP), +$0.020 (1%) to $2.020 on volume of 174,000 shares; and
  • Galileo Shopping America Trust (GSA), +$0.010 (0.84%) to $1.200 on volume of 2.97m shares.

The worst-performed sector today was XIJ Information Technology which lost 0.23% to 432.80 points. The sector was dragged lower by

  • ERG (ERG), -$0.005 (3.7%) to $0.130 on volume of 9.1m shares;
  • Infomedia Ltd (IFM), -$0.005 (1%) to $0.495 on volume of 80,000 shares;
  • Computershare (CPU), -$0.060 (0.9%) to $6.580 on volume of 2m shares;
  • MYOB (MYO), -$0.005 (0.45%) to $1.100 on volume of 286,000 shares; and
  • IRESS Market Technology (IRE), -$0.020 (0.44%) to $4.530 on volume of 100,000 shares.

Just in front of last place on the sector table was XMJ Materials which lost 0.19% to 8744.60 points. The sector was pulled down by

  • Iluka Resources (ILU), -$0.200 (2.53%) to $7.710 on volume of 1.77m shares;
  • Bluescope Steel (BSL), -$0.170 (2.46%) to $6.740 on volume of 7.42m shares;
  • Orica (ORI), -$0.420 (2%) to $20.600 on volume of 691,000 shares;
  • Kimberley Diamond Company (KIM), -$0.025 (1.83%) to $1.340 on volume of 567,000 shares; and
  • CSR (CSR), -$0.050 (1.53%) to $3.220 on volume of 1.32m shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XPJProperty Trusts1930.714.80.77%59.1m
XXJASX200 Financials ex Property Trusts5638.824.60.44%45.92m
XSJConsumer Staples5856.91.50.03%12.43m
XDJConsumer Discretionary2220.5-3.9-0.18%20.53m
XIJInformation Technology432.8-1-0.23%12.96m

All Ordinaries Major Movers

All Ords Volume Leaders
TLSTelstra Corporation3.830.010.26%16.37m
VRLVillage Roadshow2.760.082.99%15.5m
RDRReed Resources Ltd0.24-0.02-7.84%12.33m
MPRMacquarie Prologis Trust1.2-0.01-0.42%12.1m
SPNSP AUSNET1.29-0.01-0.39%11.44m
CPACommonwealth Property Office Fund1.2700%11.41m
All Ords Percentage Gainers
VTIVirotec International0.610.047.02%335200
CHQChiquita Brands South Pacific0.640.046.67%82920
All Ords Percentage Decliners
DRADragon Mining0.13-0.03-16.67%2.44m
UNWUnwired Group0.36-0.04-10%473532
SEDSedimentary Holdings0.24-0.02-7.69%1.31m
DOMDominion Mining0.78-0.05-5.49%217625

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503281.90447.231.46%33.52m
JapanNikkei 22515183.67-70.77-0.46%0
SingaporeStraits Times2326.120.390.02%0
Hong KongHang Seng15001.04-57.98-0.39%140.7m
MalaysiaKLSE Comp893.59-1.39-0.16%0