Image representing finance markets
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Australia’s banking sector has had a stonking day on the stock market, on what has been an otherwise quiet Friday.

Heading into the afternoon, the financial sector moved ahead of utilities as the best-performing sector, registering gains of 1.50% on the ASX.

The story of the day was Commonwealth Bank of Australia (ASX:CBA), which broke its all-time record in intraday trade, reaching a share price of $143.50 in the early afternoon, before readjusting slightly down from that number. CBA’s previous record was $143.38.

ANZ was also performing well: with a 1.44% rise in its share price, which was $31.70 at 13:24 AEST, while Westpac was up 1.39% to $32.02 and National Australia Bank (NAB) had risen 0.95% to $38.87.

The rally across Australia’s financial sector boosted the overall performance of the ASX200, which had gained nearly 0.60% to 8029.20 by 13:28 AEST.

The utilities sector had gained 1.41% at the same time, followed by the discretionary sector – which was up 1.29%, staples (up 0.96%) and real estate, which had listed 0.93%.

Energy was the worst-performing sector, being down 1.68%, while materials were down 0.65%, information technology was down 0.43% and telecommunications were down 0.13%.

More From The Market Online

Elixir Energy hits milestone at Lorelle-3H well with commencement of post-soak flow testing

Elixir Energy is set to hit a key milestone with a new phase of testing of…
Brent falling concept

Energy sector worst off on Thursday as Brent Crude falls below US$100/bbl

While all 11 sectors on the ASX are red for this surprisingly bloody Thursday, the recently-very-volatile energy sector is actually the worst off,
HotCopper Daily Market Trends Graphic

Thursday’s HotCopper trends: Meteoric Resources, Marmota, Manuka Resources and other daily topics

With more than 600k average monthly users on the HotCopper forums, each and every discussion can…
Image of two soldiers looking at a drone

Droneshield up +8% WoW as fresh $720M US contract revives interest

Droneshield (ASX:DRO) has been struggling in particular ever since its founder and directors sold all of their shares out