The S&P/ASX 200 has beaten its previous record close after ending today’s (16 September) trading session 21.70 points, or 0.27%, higher at 8,121.60 points.
This beats the previous top close of 8,114.7 points reached at the start of August 2024.
Seven of the 11 sectors ended higher along with the S&P/ASX 200 Index. Telecommunications services was the best performing sector, gaining 0.98% over the course of Monday and 0.82% for the past five days.
Materials went against the flow of green to close down 0.27%, taking gold producer Emerald Resources (ASX:EMR) and coal producer Stanmore Resources (ASX:SMR) with it following respective dips of 5.88% and 4.64%. Energy and utilities also ended the day in the red, retreating 0.21% and 0.85% respectively.
Riding the wave higher was Alcoa (ASX:AAI) following news of the $1.1 billion sale of its 25.1% stake in the Ma’aden Joint Venture to partner Saudi Arabian Mining Company. The aluminium producer sustained its early gains to close up 5.87%.
Evolution Mining (ASX:EVN), meanwhile, advanced further during Monday’s session to close at 4.33%. The gold producer was among the top five 90-day average volume outliers with a 119% gain — the second highest shift higher after Domino’s Pizza (ASX:DMP).
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market. The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation
It is recognised as the institutional investable benchmark in the country.
Over the last five days, the index has gained 1.35% and is currently 0.33% off of its 52-week high.
Write to Angela East at Mining.com.au
Images: ASX & Stock
