Is it opposite day?
Today the ASX All Ords soared and Medibank Private (ASX:MPL) sagged, compared to yesterday when the All Ords caught a downward spiral and Medibank jumped.
By the close the All Ordinaries had rallied 1.1% to 5380.
Medibank sagged 1.9% to $2.10, on massive volume of 130 million shares changing hands.
The market was once again all about Medibank today which had a disappointing dip, following on from yesterday when investors large and small patted themselves on the back after a stag profit.
Retail investors (covering 1,652,401,944 shares at $2) are still sitting on a 5% gain, and it will be interesting Monday what happens when many of these investors receive their shares.
By the way, Medibank has said that refunds for scaled applications will be issued from 4th December 2014.
But it's also worth touching on the instos which bought 1,101,601,296 shares (to be exact!) in the IPO process, which are now five cents, or 2.5% underwater.
The instos were up close to 8% yesterday when the stock peaked at $2.23, but the turnaround has been quick.
Has the selling pressure stopped yet? Or has the buying demand changed?
We will just have to tune in tomorrow to find out.
Now for the BLUE CHIPS
Major miners:
Rio Tinto (ASX:RIO) up 1.7% to $58.39, BHP Billiton (ASX:BHP) up 1.3% to $32.53, Fortescue Metals Group (ASX:FMG) down 0.7% to $2.79. Newcrest (ASX:NCM) added 0.4% to $10.64
Energy or Oil and Gas:
Santos (ASX:STO) up 1.3% to $11.98, Oil Search (ASX:OSH) up 1.2% to $8.70, Woodside Petroleum (ASX:WPL) up 0.5% to $39.56
Big 4 banks:
Westpac (ASX:WBC) up 1.4% to $33.07, Commonwealth Bank (ASX:CBA) up 1.0% to $81.01, National Australia Bank (ASX:NAB) up 1.0% to $32.46, ANZ Bank (ASX:ANZ) up 0.8% to $32.38.
Other banks, financials and industrials:
Macquarie Group (ASX:MQG) up 1.9% to $59.66, AMP (ASX:AMP) up 1.6% to $5.72, Suncorp (ASX:SUN) up 1.4% to $14.63, Bendigo and Adelaide Bank (ASX:BEN) up 1.3% to $12.75, Bank of Queensland (ASX:BOQ) up 1.2% to $12.24, Telstra (ASX:TLS) up 0.9% to $5.67.
Retailers:
JB Hi-FI (ASX:JBH) up 0.3% to $15.55, Wesfarmers (ASX:WES) flat at $42.23, Woolworths (ASX:WOW) down 0.5% to $31.08.
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