End of quarter tumble 🤕

The local market was buoyant all day, with a jump in the iron ore price pushing the resource sector to a new record high. Blue chips Rio, Fortescue and BHP all closed up between 2-4.5%. After the relentless rally in financials, investors cooled on the idea and took some profits. Harvey Norman closed down 6% as it went ex-dividend. Block, Xero and Zip all finished around 3-5% lower as tech was once again out of favour. As quarter-end bites on March 31, the red sell button loomed. The S&P/ASX200 lost its winning streak and closed down 15 points - a hint under 7500. However, March added 6.4%, the biggest monthly gain in 16 months.

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