The ASX continues its 'Santa Rally' surge

Photo by Lisa Maree Williams/Getty Images

Australia’s ASX 200 is rallying hard yet again on Wednesday, extending its rally into a ninth consecutive session.

First, the scoreboard.

  • ASX 200 5320.40 , 53.06 , 1.01%
  • All Ords 5368.30 , 52.72 , 0.99%
  • AUD/USD 0.7286 , -0.0008 , -0.11%

All sectors are currently trading in the black with the strongest gains coming from the energy, consumer discretionary, consumer staples and financials which are higher by more than 1%.

Elsewhere, the gains range between 0.08% to 0.86%.

In the unlikely scenario that the market will reverse its initial gains, the ASX 200 looks set to finish higher for the ninth session, the longest stretch of gains seen since early February this year.

From the low of 4,909.56 struck on December 15, it has now rallied by 8.33%. After a slow start, the Santa Rally is finding some late form.

Year to date, the index has now trimmed its loss to just 1.68%, a significant improvement on the 9.3% plunge investors were staring at just nine sessions ago.

While still unlikely, the index could still finish 2015 in the black, especially if the current form is maintained.

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