On Wednesday, the Australian stock market is experiencing some fluctuations in mid-market trading. However, it continues to build on the gains from the last two trading days. The key S&P/ASX 200 index has surpassed the 8,400 mark, underpinned by generally positive trends from global markets overnight. Notably, there is upward momentum in both financial and technology sectors.
Currently, the S&P/ASX 200 Index is advancing by 35.60 points, or 0.42%, reaching 8,438.00. Earlier in the session, it peaked at 8,455.60. Meanwhile, the broader All Ordinaries Index is also increasing, up 36.30 points or 0.42% to 8,689.00, following a significant rise in Australian stocks on Tuesday.
In the mining sector, majors like BHP Group are seeing a decline of over 1%, with Mineral Resources, Rio Tinto, and Fortescue Metals each decreasing by nearly 1%.
Oil stocks are showing mixed performance: Woodside Energy is down nearly 2%, while Santos is slightly down by 0.5%. Conversely, Origin Energy is up by over 1%, and Beach Energy is marginally higher by 0.2%.
Within the technology sector, WiseTech Global, Appen, and Xero are each up almost 2%, while Zip is increasing by close to 1%. The owner of Afterpay, Block, remains unchanged.
Regarding the major banks, Commonwealth Bank, National Australia Bank, and Westpac are each up by nearly 1%, whereas ANZ Banking shows a modest increase of 0.3%.
For gold miners, Evolution Mining is seeing a rise of over 2%, while Northern Star Resources and Gold Road Resources have modest gains ranging from 0.1% to 0.4%. Both Resolute Mining and Newmont remain steady.
In the currency market, the Australian dollar is trading at $0.627 on Wednesday.
