Here’s how the ASX 200 market sectors stacked up last week

ASX consumer discretionary shares led the ASX 200 market sectors last week with a 3.81% gain over the five trading days.

Meantime, the S&P/ASX 200 Index (ASX: XJO) swished 2.19% higher to finish the week at 7,959.3 points. The market benchmark hit a new record high during intraday trading on Friday at 7,969.1 points.

This followed positive inflation news out of the United States, which lifted hopes of interest rate cuts in the world’s biggest economy soon.

Eight of the 11 market sectors finished the week in the green.

Let’s review.

Consumer discretionary shares led the ASX sectors last week

Among the heavyweights of the ASX 200 consumer discretionary sector, Wesfarmers Ltd (ASX: WES) shares lifted a hefty 4.51% to finish the week at $68.57.

Shares in gaming technology company Aristocrat Leisure Limited (ASX: ALL) rose by 3.85% to $52.92. The Lottery Corporation Ltd (ASX: TLC) share price rose 2.48% to $4.96.

There was no price-sensitive news out of these top three companies in the ASX 200 retail sector last week.

JB Hi-Fi Ltd (ASX: JBH) shares smashed it despite news of a legal scuffle. The JB Hi-Fi share price rose 5.95% to finish on Friday at $66.11 per share.

Furniture retailer Harvey Norman Holdings Limited (ASX: HVN) shares lifted 4.09% to $4.45 apiece.

ASX 200 travel share Flight Centre Travel Group Ltd (ASX: FLT) took off 3.1% and landed at $21.95 per share.

Premier Investments Limited (ASX: PMV), owner of Just Jeans and Smiggle, rose 3.74% to finish at $30.52 per share on Friday.

There was no further news last week on the proposal from Myer Holdings Ltd (ASX: MYR) to acquire Premier’s Apparel Brands business in exchange for new Myer shares. It’s a watch and wait for now.

Other consumer discretionary shares that performed well last week included Lovisa Holdings Ltd (ASX: LOV) shares. The Lovisa share price rose by 5.36% to finish the week at $33.42.

Lovisa was the No. 1 ASX retail share for share price growth in FY24 with a 70.3% capital gain.

Last week, we discussed the fact that ASX retail shares rose by a healthy 19.29% in FY24 amid a serious cost of living crisis. That was more than twice the growth rate of the ASX 200 benchmark.

David Rumbens, a partner at Deloitte Access Economics, provided an answer on why this happened.

ASX 200 market sector snapshot

Here’s how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post Here’s how the ASX 200 market sectors stacked up last week appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy next week
• Investing in ASX shares? Why CEO pay DOES matter when misaligned
• How I’d aim to build a $75,000 income from ASX shares and never work again!
• These ASX 200 stocks turned $20,000 into $100,000+ in 10 years
• Xero shares doubled the ASX 200 return in FY24. What’s next in FY25?

Motley Fool contributor Bronwyn Allen has positions in Harvey Norman. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lottery, Lovisa, and Wesfarmers. The Motley Fool Australia has positions in and has recommended Harvey Norman and Wesfarmers. The Motley Fool Australia has recommended Flight Centre Travel Group, Jb Hi-Fi, Lovisa, and Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.