Australian stocks go absolutely nowhere

Photo by Morne de Klerk/Getty Images

It’s not been the most exiting of days for Australian stocks. They went literally nowhere.

Here’s the uneventful final scoreboard:

  • ASX 200 5485.10 , 0.74 , 0.01%
  • All Ords 5549.00 , -0.89 , -0.02%
  • AUD/USD 0.7373 , -0.0011 , -0.15%

Having rallied a mammoth 133 points, or 2.5%, in the previous two sessions, investors paused for thought on Thursday.

After attempting an early rally, something that took the benchmark ASX 200 index as high as 5,503.3, the index reversed course and moved lower before bouncing into the close.

The 5,500 level was a region that the index had difficulty overcoming in the past.

ASX 200 5-Minute Chart

It’s little wonder that investors took a breather, having already driven the market up close to 9% from the November 9 lows.

That and the cricket is on, along with the US Thanksgiving holiday arriving tonight.

It’s also the start of the Christmas party season.

Here’s how individual sectors fared during the session.

  • A-REITS -0.13%
  • Consumer Discretionary 0.13%
  • Consumer Staples 0.57%
  • Energy -0.50%
  • Financials 0.26%
  • Healthcare 0.22%
  • Industrials 0.06%
  • Information Technology -0.06%
  • Materials -0.60%
  • Telecommunications -0.26%
  • Utilities 0.11%
  • All Ords Gold Index -4.18%

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