AU Evening Wrap: Budget winners shine as market rises for seventh session

Moomoo News AU wrote a column · Mar 30, 2022 13:59

G'day, mooers! Check out the latest news on today's stock market !
• ASX 200 index edged 0.7% higher to 7514.5
• Top gainers: $Magellan Financial Group Ltd (MFG.AU)$, $Megaport Ltd (MP1.AU)$, $Novonix (NVX.AU)$
• Top losers: $Telix Pharmaceuticals Ltd (TLX.AU)$, $Incitec Pivot Ltd (IPL.AU)$, $Coronado Global Resources Inc (CRN.AU)$
- moomoo News AU

Australia's $S&P/ASX 200 (.XJO.AU)$ closed 0.7% higher at 7514.5, completing a seven-session winning streak for the first time since December 2020.

Tech, health and consumer stocks led the way as the benchmark index took its gains to 3.2% across seven sessions. Three of the top four performing ASX 200 components were tech stocks.

$Block Inc (SQ2.AU)$, $Megaport Ltd (MP1.AU)$ and $Life360 Inc (360.AU)$ rose between 6.1% and 9.6% after Tuesday's outperformance by the tech-heavy Nasdaq Composite.

$Fisher & Paykel Healthcare Corp Ltd (FPH.AU)$ led healthcare gains, rising 4.2% as it continued to bounce from a heavy selloff. Consumer stocks rose after the federal government's budget included tax offsets and cuts to fuel duty.

S&P/ASX 200 Movers for Wednesday (3/30)