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Market report November 4: ASX up as utilities surge

Market report November 4: ASX up as utilities surge

Proactive’s Tylah Tully gives a market wrap for November 4.

The ASX closed 0.56% higher on Monday, reaching 8,164.6 points.

Over the past week, the index decreased by 0.57% and remains 2.62% below its 52-week high.

Key performers included West Gold Resources Ltd, which rose by 3.55% to $3.21 per share, and Telix Pharmaceuticals Ltd (ASX:TLX), up by 3.33% to $22.16.

West Gold Resources achieved a significant drilling milestone at its Bluebird-South Junction complex with a 13-metre intercept at 18 grams per tonne of gold from the Polar Star Lode.

On the downside, Mineral Resources Ltd (ASX:MIN) dropped 9.23% to $36.86, while Boss Energy fell to $3.19.

In sector performance, nine sectors rose, with Utilities leading at 2.18%, followed by Information Technology at 1.78% and Industrials at 1.71%. Energy and Materials lagged, each down approximately 0.5%.

Among the small caps, Yandal Resources Ltd (ASX:YRL) continued a good recent run with shares up to 25.81% higher intra-day to $0.39, a new high of more than 2.5 years.

Other movers were Altech Chemicals Ltd, which was as much as 26.1% higher to $0.058, Kali Metals Ltd (ASX:KM1) up as much as 18.52% to an intra-day high of $0.16, Asian Battery Metals PLC (ASX:AZ9) was 13.65% higher than Friday's close to $0.10, Novo Resources Corporation was 10% higher to $0.11 and Jindalee Lithium Ltd (ASX:JLL, OTCQX:JNDAF) increased by 6.67% to $0.24.

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