Proactive’s Tylah Tully gives a market wrap for December 18.
The ASX closed down 0.06% at 8,309.4 points, losing 0.53% over five days and remaining 2.41% below its 52-week high.
Top performers included Zip Co, up 7.22% to $3.12, and Megaport, up 5.84% to $8.33, while Coronado Global Resources fell 4.29% to $0.78, and Insignia Financial declined 4.17% to $3.45.
Industrials (+0.77%) and Healthcare (+0.58%) outperformed, while Consumer Discretionary and Financials each fell 0.4%.
Treasurer Jim Chalmers and Finance Minister Katy Gallagher revised the 2024-25 budget deficit to $26.9 billion, citing strong tax receipts, but cumulative deficits to 2027-28 are forecast at $143.9 billion, $21 billion higher than May.
Orthocell Ltd (ASX:OCC, OTC:ORHHF) hit a new record of $1.27, climbing 10.92% from the previous high, Altech Batteries Ltd (ASX:ATC, OTC:ALTHF) rose 11.63% to a daily high of $0.048 after securing a third offtake heads of agreement for CERENERGY GridPack and Sprintex was up by 11.48% to $0.068 on securing a financing boost from its largest shareholder.
Other increases in the small cap sector were recorded by Polymetals Resources Ltd (ASX:POL), which was up as much as 8.23% to $0.855, Tryptamine Therapeutics Ltd (ASX:TYP, OTC:TYPTF) rose by 7.9% to $0,041 after releasing positive early results in an irritable bowel sydrome trial, Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) hit $1.095, a lift of 6.32% on the previous close and Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) increased by 5.8% to $0.073.