Australian stocks closed higher on Monday, buoyed by gains across the Telecoms Services, Financials, and Energy sectors. The S&P/ASX 200 index ended the day up 0.76%, reflecting a positive sentiment in the market.
Among the standout performers, Kogan.com Ltd (ASX: KGN) saw a significant increase of 12.90%, adding 0.56 points to close at 4.90. Chorus Ltd (ASX: CNU) also made notable gains, rising 9.92% or 0.72 points to end at 7.98, while James Hardie Industries PLC (ASX: JHX) appreciated by 5.01%, closing at 54.31, up 2.59 points.
Conversely, NIB Holdings (ASX: NHF) experienced a sharp decline of 16.92%, falling to 6.04, a three-year low. Appen Ltd (ASX: APX) also saw a drop, down 8.93% or 0.13 points to 1.27, and Pointsbet Holdings Ltd (ASX: PBH) decreased by 7.80%, ending at 0.50.
The Sydney Stock Exchange saw a predominance of advancing stocks, with 591 rising compared to 557 declining, and 446 remaining unchanged. Chorus Ltd reached a 52-week high, while NIB Holdings dropped to a three-year low.
The S&P/ASX 200 VIX, a measure of implied volatility for S&P/ASX 200 options, fell by 0.51% to 11.63, indicating a slight decrease in market uncertainty.
In commodity markets, December gold futures increased by 0.12% or $3.10 to $2,549.40 per troy ounce. Crude oil for October delivery gained 0.83% or $0.62, reaching $75.45 per barrel, while November Brent oil rose 0.74% or $0.58 to $78.73 per barrel.
Currency movements showed the AUD/USD exchange rate remained relatively stable, up 0.25% to 0.68, whereas the AUD/JPY fell by 0.47% to 97.45.
I am Aparna Sahu
Investment Specialist and Financial Writer
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