Australian equities finished slightly higher on Monday, with technology, consumer discretionary and industrial stocks providing the main upward momentum. At the Sydney close the S&P/ASX 200 had gained 0.22%.
Among individual movers, Austal Ltd (ASX:ASB) was the session's top performer, surging 20.74% - a rise of 1.01 points to finish at 5.88. Wisetech Global Ltd (ASX:WTC) added 12.76% or 5.44 points to close at 48.06, while Genesis Minerals Ltd (ASX:GMD) rose 7.86% or 0.54 points to end the day at 7.41.
On the downside, Summerset Group Holdings Ltd (ASX:SNZ) fell 6.11% or 0.58 points to close at 8.92. Treasury Wine Estates Ltd (ASX:TWE) declined 4.39% or 0.23 points to finish at 5.01, and Fortescue Metals Group Ltd (ASX:FMG) slipped 4.15% or 0.88 points to trade at 20.33.
Market breadth in Sydney saw advancing issues outnumber decliners, with 647 stocks rising compared with 493 falling; 371 were unchanged.
Notably, shares of Summerset Group Holdings Ltd (ASX:SNZ) dropped to 52-week lows, decreasing 6.11% or 0.58 to 8.92 at the close.
Measures of expected volatility moved lower as well. The S&P/ASX 200 VIX, which reflects implied volatility for S&P/ASX 200 options, fell 4.77% to 12.95.
Commodities and currency markets showed mixed moves. Gold Futures for April delivery were down 0.80% or 40.59 to $5,005.71 a troy ounce. In energy markets, crude oil for April delivery ticked up 0.02% or 0.01 to $62.76 a barrel, while the April Brent oil contract was unchanged 0.00% or 0.00 at $67.75 a barrel.
On the currency front, AUD/USD was unchanged 0.20% to 0.71, while AUD/JPY rose 0.50% to 108.58. The US Dollar Index Futures increased 0.04% to 96.86.
The session highlighted a split market where sector leadership from technology, consumer discretionary and industrials lifted the headline index modestly while a handful of larger and smaller-cap names posted steep declines. Volatility indicators eased and commodity prices showed varied direction across precious metals and energy.
Summary
The S&P/ASX 200 closed up 0.22% as gains in IT, consumer discretionary and industrial stocks offset losses in a subset of major and smaller-cap names. Austal, Wisetech Global and Genesis Minerals were the day's leading advancers while Summerset, Treasury Wine Estates and Fortescue were among the largest decliners. Market breadth favoured risers and the S&P/ASX 200 VIX moved lower.