AIRLINK 75.25 Increased By ▲ 1.55 (2.1%)
BOP 4.90 No Change ▼ 0.00 (0%)
CNERGY 4.43 Decreased By ▼ -0.09 (-1.99%)
DFML 43.30 Decreased By ▼ -1.58 (-3.52%)
DGKC 84.70 Decreased By ▼ -0.80 (-0.94%)
FCCL 21.30 Decreased By ▼ -0.10 (-0.47%)
FFBL 32.30 Decreased By ▼ -0.21 (-0.65%)
FFL 9.53 Decreased By ▼ -0.06 (-0.63%)
GGL 10.10 Decreased By ▼ -0.17 (-1.66%)
HASCOL 6.98 Decreased By ▼ -0.15 (-2.1%)
HBL 114.59 Decreased By ▼ -0.11 (-0.1%)
HUBC 139.30 Increased By ▲ 0.20 (0.14%)
HUMNL 12.18 Decreased By ▼ -0.24 (-1.93%)
KEL 4.96 Decreased By ▼ -0.07 (-1.39%)
KOSM 4.40 Decreased By ▼ -0.05 (-1.12%)
MLCF 37.22 Decreased By ▼ -0.38 (-1.01%)
OGDC 134.00 Decreased By ▼ -2.80 (-2.05%)
PAEL 25.29 Decreased By ▼ -0.10 (-0.39%)
PIBTL 6.64 Decreased By ▼ -0.05 (-0.75%)
PPL 119.29 Decreased By ▼ -1.71 (-1.41%)
PRL 26.33 Decreased By ▼ -0.26 (-0.98%)
PTC 13.70 Decreased By ▼ -0.40 (-2.84%)
SEARL 56.91 Decreased By ▼ -0.39 (-0.68%)
SNGP 66.90 Decreased By ▼ -1.10 (-1.62%)
SSGC 10.31 Decreased By ▼ -0.11 (-1.06%)
TELE 8.34 Decreased By ▼ -0.11 (-1.3%)
TPLP 10.88 Decreased By ▼ -0.10 (-0.91%)
TRG 62.90 Decreased By ▼ -0.44 (-0.69%)
UNITY 27.00 Decreased By ▼ -0.05 (-0.18%)
WTL 1.35 Decreased By ▼ -0.03 (-2.17%)
BR100 7,915 Decreased By -25.6 (-0.32%)
BR30 25,405 Decreased By -243.1 (-0.95%)
KSE100 75,360 Decreased By -157.7 (-0.21%)
KSE30 24,195 Decreased By -83 (-0.34%)

Australian shares rose on Wednesday to recover from two straight sessions of losses, powered by heavyweight miners and energy firms, a day after the central bank stood pat on interest rates.

The S&P/ASX 200 index was up 0.7% at 7634.60 points by 2315 GMT.

The benchmark closed 0.6% lower on Tuesday.

The Reserve Bank of Australia on Tuesday decided to hold interest rates at a 12-year high of 4.35%, but left the possibility of future rate hikes open, in a hawkish caution.

Lifting sentiment was data that showed a slow but steady increase in Australian fourth-quarter retail sales volumes.

Additionally, investors around the world wrap their head around a mixed bag of signals from Federal Reserve officials about its first planned interest rate cut, after Chair Jerome Powell dashed any surviving hopes of a March cut.

On the local bourse, miners led gains with a 1.5% jump, set for their best day since Jan. 25, if trend holds. Shares of sector majors BHP Group and Fortescue were up 1.2% and 1.9%, respectively.

Australian energy stocks added to the upward trajectory, trading 0.7% higher on the back of elevated oil prices, hitting their highest level since Oct. 30.

Australian shares drop 1% ahead of RBA rate decision

Shares of sector giant Woodside Energy were up 1% while Santos climbed 0.8%. Gold stocks rose 0.7%, aided by firmer bullion futures.

Shares of gold miners Northern Star Resources and Evolution Mining were up 1% each.

Heavyweight financials were trading 0.4% higher, while National Australia Bank fell more than 1% in early trade. NAB named Andrew Irvine as group chief executive officer and managing director, succeeding Ross McEwan.

New Zealand’s benchmark S&P/NZX 50 index was flat at 11912.56 points after data signalled the country’s jobless rate rose to 4% in the fourth quarter even as employment grew 0.4%.

Comments

200 characters