Australia Market ends flat

The Australian share market finished session virtually flat on Tuesday, 13 July 2021, as risk sentiments muted amid lingering worries about the spread of the highly contagious coronavirus variants in New South Wales, with losses in realty, energy and financials offset gains in industrials, utilities, and consumer staples stocks.

At closing bell, the benchmark S&P/ASX200 declined marginal 1.41 points, or 0.02%, to 7,332.06. The broader All Ordinaries added 7.29 points, or 0.1%, to 7,612.19.

Total 7 of 11 sectors ended higher. Industrials (up 0.86%) was top performing sector, followed by utilities (up 0.83%), consumer staples (up 0.43%), healthcare (up 0.37%), and telecommunication services (up 0.3%) sectors. Realty (down 0.86%) was worst performing sector, followed by energy (down 0.62%), and financials (down 0.43%).

The best performing stocks in the S&P/ASX200 were Nearmap (up 14.36%), Incitec Pivot (up 5.76%), NRW Holdings (up 5.2%), Orocobre (up 5.18%), and Janus Henderson Group Plc (up 3.8%), while the bottom performing stocks were Platinum Asset Management (down 8.26%), Whitehaven Coal (down 2.93%), Charter Hall Group (down 2.23%), Challenger (down 2.23%), and OZ Minerals (down 216%).

Australia reported a slight easing in new COVID-19 cases in Sydney on Tuesday, but the possibility of a lockdown extension still looms, with growing fears that the outbreak was showing early signs of spreading further afield.

Energy stocks closed lower even as oil prices climbed overnight. Whitehaven Coal Ltd tumbled 2.7%, followed by Woodside Petroleum, losing 1.3%.

Shares of financials declined, with Australia's biggest lender Commonwealth Bank of Australia and second-largest lender Westpac skidding up to 0.8% and 0.5%, respectively.

Shares of miners extended gains from the previous session, with Rio Tinto rising 0.6% and Fortescue Metals Group climbing 2.1%.

Nearmap shares soared 14.4% after the aerial imagery tech firm expects its fiscal 2021 contract value to beat the top end of its upgraded guidance.

Youfoodz shares skyrocketed more than 77% after the ready-made meals provider received a 95 cents per share or $125 million bid from global food giant HelloFresh.

CURRENCY NEWS: The Australian dollar changed hands at $0.7481, above levels around $0.745 seen yesterday.

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