• SMC open account icon Open an A/C
    • Open an A/C
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c

Budget News

  • Australia Market rises on upbeat offshore lead
  • August 04,2020  14:38
  • The Australian share market finished session higher on Tuesday, 04 August 2020, as investor sentiment was lifted by following Wall Street's upbeat lead after upbeat U.S. manufacturing data and as the Reserve Bank signalled it would resume bond purchases.

    At closing bell, the benchmark S&P/ASX200 index surged 111.46 points, or 1.88%, to 6,037.55. The broader All Ordinaries was up 112.54 points, or 1.86%, to 6,166.49.

    Overnight, the three major U.S. indexes gained between 0.7% and 1.5% as signs of a rebound in multibillion-dollar deals bolstered risk sentiment. Adding to investor confidence, an industry gauge indicated U.S. manufacturing activity expanded in July at the fastest pace in more than a year. The strong data from the U.S. following positive Chinese data earlier on Monday reaffirmed that the global economic recovery was still in place.

    Meanwhile, the Reserve Bank of Australia left its cash rate at a record low of 0.25% and RBA board members announced it would maintain an accommodative approach on expectation that the economic recovery from the pandemic would be uneven and bumpy. The central bank also announced it would resume bond purchases in order to keep a lid on the 3-year yield.

    All sectors finished higher, with tech shares and financials led the pack for most of the session. Commonwealth Bank set the pace for the big four with a 2.3% rise to A$71.50.

    Materials stocks were buoyed by a 5% increase in iron or prices to $US116 a tonne, with Fortescue Metals setting another new record close of $18.16. Rio Tinto and BHP added 2% and 1.5% respectively.

    CURRENCY NEWS: The Australian dollar was at $0.7141 after falling below $0.71 yesterday.

    Powered by Capital Market - Live News

Top News
Global News

Follow us:

  • fb icon
  • Twitter icon
  • Linkedin
  • you tube

Disclaimer: Investment in securities and commodities market are subject to market risks, read all the related documents carefully before investing. SMC Global Securities Ltd. (CIN : U67120DL1997PLC188881): NSE INB/ INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432, CDSL/NSDL-IN-DP-130-2015, SMC Research Analyst Registration- INH 100001849 I SMC Global Securities Ltd.: NCDEX/MCX (8200)/ NMCE/ICEX-INZ000035839 I SMC Global Securities Ltd.: PMS INP000003435 I SMC Insurance Brokers Pvt. Ltd., IRDAI Regi: No: DB 272/04, License No. 289 Valid from 28-01-2020 to 27-01-2023 I Registered Office: 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005, Tel.: (011) 30111000. For any complaints email –, website:

Insurance is the subject matter of solicitation • All insurance products sold through SMC Insurance Brokers Pvt. Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC Global Securities Ltd. • IPOs and Mutual Funds distribution services are provided by SMC Global Securities Ltd. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services provided by SMC Global Securities Ltd. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.


Toll-free : 1800-11-0909

Plus Minus 
Copyright ©2016 SMC. All Rights Reserved | Disclaimer | Privacy Policy | RMS Policy | Copyright| Testimonials| Sitemap| Grievance| design agency: triverse| Powered by C-MOTS Infotech (ISO 9001:2015 certified)
Open An Account

Open my trading account now!  X 

* All fields are compulsory