Today, the S&P/ASX 200 Index (ASX: XJO) slipped into the red following the Reserve Bank of Australia’s decision to lift the cash rate for the first time in 11 years. At the end of the session, the benchmark index finished 0.42% lower at 7,316.2 points.
Investors have been holding tight in preparation for central banks to increase interest rates amid high inflation prints. Today, the RBA handed down the much-awaited decision to boost the cash rate by 0.25%. Interestingly, tech and healthcare shares enjoyed some reinvigoration despite the expectation of further rate increases throughout the year.
Meanwhile, the other end of the market consisted of companies in the materials and real estate sectors. Notably, the real estate sector was the worst performer today as debts look set to become more expensive.
However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:
Top 10 ASX shares countdown today
Looking at the top 200 listed companies, Stanmore Resources Ltd (ASX: SMR) was the biggest gainer today. Shares in the coal producer rallied 5.40% as some forecasts suggest wholesale electricity could double over the next year. Find out more about Stanmore Resources here.
Sliding in as the second biggest gainer today was Magellan Financial Group Ltd (ASX: MFG). The fund manager posted a gain of 5.40% amid reports that the company is moving on from Hamish Doughlass’s tenure on the board. Uncover the latest Magellan Financial Group details here.
Today’s top 10 biggest gains were made in these ASX shares:
|ASX-listed company||Share price||Price change|
|Stanmore Resources Ltd (ASX: SMR)||$2.55||8.05%|
|Magellan Financial Group Ltd (ASX: MFG)||$17.17||5.4%|
|Block Inc CDI (ASX: SQ2)||$149.26||5.11%|
|GQG Partners Inc (ASX: GQG)||$1.45||4.32%|
|Lovisa Holdings Ltd (ASX: LOV)||$17.13||4.07%|
|Coronado Global Resources Inc (ASX: CRN)||$2.38||3.93%|
|Pro Medicus Ltd (ASX: PME)||$45.24||3.36%|
|Yancoal Australia Ltd (ASX: YAL)||$5.30||3.31%|
|Domain Holdings Australia Ltd (ASX: DHG)||$3.53||3.22%|
|Idp Education Ltd (ASX: IEL)||$27.14||2.92%|
Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
- Here’s why the Metcash share price just hit a 15-year high
- Here’s how some of the biggest ASX 200 shares are responding to the RBA’s rate rise
- Here are the 3 most heavily traded ASX 200 shares on Tuesday
- Could Polynovo shares get kicked out of the ASX 200?
- RBA increases cash rate by 25bps and warns of more hikes
Motley Fool contributor Mitchell Lawler has positions in Block, Inc. and Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc., Idp Education Pty Ltd, and Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Block, Inc. and Pro Medicus Ltd. The Motley Fool Australia has recommended Lovisa Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/xvYK2f6