A pleasant surprise 🎉

After a momentary lapse last week, Friday was once again buy-day for local investors. Back-to-back gains for the benchmark – we haven’t been seen that since May. While the index gains weren’t electric, they were for lithium plays with corporate activity, short-covering and bargain hunting helping to spur mammoth gains. Unsurprisingly, the energy sector was the session laggard, sliding 1.5%. Despite the heroics from the lithium names, materials eased 0.15%, weighed down by the iron ore majors. Financials were flat, recovering from early losses. Technology, consumer discretionary, REITs, healthcare and communications did the heavy lifting, rising between 1.6% to 6%. The S&P/ASX 200 rose 0.77%, adding 50.3 points to 6578.7. For the week, the benchmark climbed 1.6%.

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