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HomeLatestAustralia Stocks Rally as S&P/ASX 200 Surges by 1.44%
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Australia Stocks Rally as S&P/ASX 200 Surges by 1.44%

Sydney’s stock market experienced a significant rally on Tuesday, with gains across sectors such as Utilities, Gold, and Consumer Discretionary driving the S&P/ASX 200 index up by 1.44% at the close of trading.

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Among the top performers on the S&P/ASX 200 index were AGL Energy Ltd (ASX:AGL), which saw a notable increase of 7.51%, followed by Star Entertainment Group Ltd (ASX:SGR) and Domain Holdings Australia Ltd (ASX:DHG), which recorded gains of 5.75% and 5.47%, respectively.

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Conversely, Omni Bridgeway Ltd (ASX:OBL), Sims Metal Management Ltd (ASX:SGM), and Bapcor Ltd (ASX:BAP) were among the worst performers of the session, experiencing declines during trading hours.

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The overall market sentiment was positive, with rising stocks outnumbering declining ones on the Sydney Stock Exchange. However, some stocks, such as Omni Bridgeway Ltd (ASX:OBL) and Sims Metal Management Ltd (ASX:SGM), reached multi-year lows, reflecting specific challenges faced by these companies.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, experienced a decrease, indicating reduced market volatility.

In commodities trading, gold futures saw a slight decline, while crude oil prices experienced minor fluctuations.

Currency markets saw the Australian dollar holding steady against the US dollar, while the US Dollar Index Futures recorded a slight increase.

Overall, the rally in Australia’s stock market reflects positive investor sentiment and suggests optimism about economic recovery and growth prospects.

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