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ASX Stock Market Recap April 2024

April 2024 was a significant month for investors in the Australian Stock Exchange (ASX). Tensions in the Middle East continued, as did concerns over inflation, and there was a rise in the demand for precious metals. This is your ASX stock market recap for April 2024.

Key Points

Market Overview

According to the Australian Securities and Investments Commission, the total new capital quoted on the ASX during April 2024 was $4.369 billion. This was a huge increase compared to the corresponding period of April 2023, with $2.560 billion. 

The average number of cash trades including equities, interest rates, and warrant trades, increased by 16% over the corresponding period last year, and the average daily value traded increased by 1% over April 2023, reaching $5.231 billion.

Equity options, on the other hand, showed decreases over the same period last year. Daily contracts traded decreased by 17% while index options went down by 24% from the figure recorded for April 2023.

New participants included StoneX Financial Pty Ltd for ASX 24 & ASX Clear (Futures) and Catamount Trading Pty Ltd for ASX 24 Principal Trading.

Safe haven assets like gold continued to perform well in April. This was seen in Emerald Resources’s share price gain of 20.8% (ASX: EMR), South32’s share price gain of 19.7% (ASX: S32), and Newmont Corporation’s 18.6% gain(ASX: NEM).

 

Relevant News

The ASX took a beating mid-month amid escalating tensions in the Middle East and continuing inflation concerns. Issues like these saw a slide in Wall Street as well as on the ASX. The S&P/ASX 200 Index fell 35.6 points, a 0.5 percent slide for interest rate-sensitive sectors.  

Meanwhile, in the mining sector, gold shares were given a boost in April by reports of high productivity such as at South32’s mines and Emerald Resources’ Okvau Gold Mine.

Conclusion

April 2024 was a time of much activity on the ASX. The tenuous global political climate and ceaseless inflation woes continued to have an impact on the S&P/ASX 200 Index. However, some listed companies showed strong returns despite these issues, particularly in the mining sector, where high productivity drove investor confidence in precious metals.

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