Proactive’s Tylah Tully provides a market wrap for October 16.
The ASX closed 0.41% lower today at 8,284.7 points. Despite the decline, the index has gained 1.19% over the last five days and remains 0.56% below its 52-week high.
The top-performing stock was Evolution Mining, which saw an increase of 6.82%, closing at $5.01 per share. Conversely, IDP Education continued its decline for the second day, dropping 5.04% to $13.00 per share.
Sector performance was mixed, with Financials gaining 0.27%, marking its second consecutive day of growth. However, Information Technology fell 1.35%, followed by Utilities down 1.21% and Consumer Staples decreasing by 1.16%.
In the small-cap sector, Nyrada (ASX:NYR) rose by 36%, adding more than 3.5 cents to its share price. Resolution Mining and MRG Metals (ASX:MRQ) both increased by 33%.
A major mover in the small caps sector was Mako Gold Ltd (ASX:MKG), which was up as much as 77.78% to $0.016 on the back of a merger proposal with Aurum Resources Ltd (ASX:AUE).
Among other gains for small caps were Provaris Energy Ltd (ASX:PV1, OTC:GBBLF), which was as much as 25% higher to $0.03, Yandal Resources Ltd (ASX:YRL) up 15% to $0.115, Polymetals Resources Ltd (ASX:POL) as much as 8.98% higher to $0.425, Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA) up 8.11% to $0.20, Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) as much as 8.0% higher to $0.54, Australian Gold & Copper was 6.82% higher to $0.235 and Lunnon Metals Ltd (ASX:LM8, OTC:LNMLF) up to 6.67% higher to $0.32.
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