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The benchmark S&P/ASX 200 Index (ASX: XJO) ended the day a substantial 3.55% in the red at 6,686 points on Tuesday.

The index is now down more than 10% this year to date. The hot-running energy sector was the worst performer on Tuesday, with the S&P/ASX Energy Index (ASX: XEJ) sinking 4.88%.

However, a few ASX 200 shares held the fort today. While their counterparts endured losses, these three were among those that avoided the sell-off.

Computershare Ltd (ASX: CPU)

The Computershare share price ended the day 1.55% higher at $23.53.

This ASX 200 tech share has been broadly trending upwards since bouncing off a low of $22.77 on 25 May. The stock has certainly caught the attention of portfolio managers in recent times as well, my Foolish colleague Tony Yoo wrote last month.

Speaking to Livewire, Tribeca portfolio manager Jun Bei Liu said Computershare would be a beneficiary of rising interest rates.

That sentiment was echoed by Fairmont Equities managing director Michael Gable, Yoo wrote, citing Gable’s blog.

Despite winding back in the past month, the Computershare share price is still up 17% this year to date.

Crown Resorts Ltd (ASX: CWN)

The Crown Resorts share price spent plenty of time in the green today before ending the day flat at $13.05. The ASX 200 share cruised past its 52-week high last week and has been in an uptrend these past six to eight months.

The Crown share price has rallied since 9 June, when Crown provided an update on its proposed takeover by private equity firm Blackstone.

The acquisition has now received approval from the Victorian Gambling and Casino Control Commission and New South Wales Independent Gaming and Liquor Authority.

The nearly $9 billion acquisition is nudging forward to being completed.

Uniti Group Ltd (ASX: UWL)

Finally, the Uniti share price spiked in early trade and closed 0.41% higher at $4.95 on no new updates.

Investors bid the share price up in March from its 52-week low of $3.05, with investors now realising a tidy gain since that point.

It caught buyers’ attention again in April. This time, it was after Uniti announced the Morrison/Brookfield Consortium sweetened its deal to acquire the telecommunications infrastructure company.

The consortium agreed to acquire the ASX 200 share for a cash consideration of $5.00 per share, less any dividends.

The post 3 ASX 200 shares that avoided today’s sell-off appeared first on The Motley Fool Australia.

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More reading

• Lake Resources share price defies rout to leap 14%
• Here are the 3 most traded ASX 200 shares on Tuesday
• Is this a stock market crash for ASX 200 shares?
• ASX 200 bank shares tumble: Citi says time to buy
• ASX 200 midday update: Block and Zip crash amid market selloff

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Qantas Airways Limited (ASX: QAN) share price had a horror day on the market today.

Shares in the airline plunged 6.20% to $4.84 at the end of trading on Tuesday. For perspective, the S&P/ASX 200 Index (ASX: XJO) fell 4.19% today.

Let’s take a further look at how the Qantas share price performed amid wider market carnage today?

Qantas share price takes a hit

Qantas shares were not the only ASX travel shares that fell today. Flight Centre Travel Group Ltd (ASX: FLT) shares plunged 4.66%, while Webjet Limited (ASX: WEB) shares tumbled 7.89%. Travel shares are falling amid a tough day on the ASX 200 today. This followed US major share markets plunging overnight.

The S&P 500 (INDEXSP: .INX) fell 4% in the United States, while the NASDAQ (INDEXNASDAQ: .IXIC) plunged 4.7% on Monday.

Higher than expected inflation figures from the US drove speculation that the US Federal Reserve could raise rates by 0.75%.

US airlines did not escape this carnage. American Airlines Group Inc (NASDAQ: AAL) shares dived 9.45% and United Airlines Holdings Inc (NASDAQ: UAL) shares plunged 10% on Monday. Delta Airlines Inc (NYSE: DAL) shares also fell 8.29%.

In other news, Rex Airlines has again accused Qantas of “predatory” attacks on the Regional Express Holdings Ltd (ASX: REX) network. REX announced it would commence flights between Melbourne and Devonport in Tasmania. This followed Rex pulling out of the Melbourne to Albury route. Chairman John Sharp said:

Qantas predatory attacks on Rex’s network mean that we no longer can support the marginal routes and we need to channel our resources to the biggest regional routes where the financial returns are much better.

However, in comments reported by the Sydney Morning Herald, QantasLink CEO John Gissing dismissed these claims from Rex, describing Qantas’ decision to fly certain regional routes as competition. Gissing said:

What Rex calls ‘predatory behaviour’ is actually competition which provides these regional communities with choice, more services and lower fares

Share price snapshot

The Qantas share price has climbed nearly 3% in the past 12 months, while it has fallen more than 3% year to date.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has shed around 10% in a year.

Qantas has a market capitalisation of $9.19 billion based on its current share price.

The post Why did the Qantas share price nosedive 6% today? appeared first on The Motley Fool Australia.

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More reading

• Virgin Australia eyes upcoming ASX IPO: ‘Doing at least as well’ as Qantas
• ‘We need your help’: What’s dragging on the Qantas share price today?
• Qantas share price lifts amid ACCC decision
• Could a lack of pricing power drag on Qantas shares in 2022?
• Top broker tips 20% upside for Qantas share price

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re a growth investor with room for some new additions to your portfolio, then it could be worth considering the two ASX growth shares listed below.

Here’s what you need to know about these buy-rated ASX shares:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first ASX growth share to look at is Domino’s. It is of course the ANZ region’s leading pizza chain operator with almost 900 stores across the two countries. In addition, the company has over 1,300 stores in Europe and over 1,000 stores in Asia.

But management isn’t settling for that. It has set itself a milestone of 6,650 stores by 2033, which is 2.1x its current market size. If Domino’s delivers on this and continues its long track record of same store sales growth, this will bode well for its growth over the next decade.

Morgans is a fan of the company due to its growth plans. And following recent weakness, it believes “there is meaningful upside to the current share price over the next 12 months.”

Morgans has an add rating and $93.00 price target on its shares.

IDP Education Ltd (ASX: IEL)

Another ASX growth share that has been tipped as a buy is IDP Education. It is a provider of international student placement and English language testing services across several countries.

The team at Goldman Sachs is very positive on IDP Education’s outlook. Particularly given structural drivers and recent acquisitions. The latter have strengthened its market position in key markets.

In fact, the broker believes that IDP Education’s outlook is so strong that it is forecasting a “68% 3yr EPS CAGR (FY21-FY24E).”

In light of this strong earnings growth potential, Goldman Sachs currently has a buy rating and $35.50 price target on the company’s shares.

The post 2 top ASX growth shares with major upside potential appeared first on The Motley Fool Australia.

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More reading

• Leading brokers name 3 ASX shares to buy today
• Watch out Domino’s! Pizza Hut is coming for a bigger slice of the pie
• Analysts say these top ASX growth shares could jump over 30%
• Belt tightening? 5 ASX 200 consumer shares slipping to new 52-week lows today
• Domino’s share price tipped to rise 40% amid ‘absolutely undiminished’ growth opportunity

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Idp Education Pty Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Nickel Industries Ltd (ASX: NIC) share price fell by 8.6% during today’s market sell-off.

At the close on Tuesday, the Nickel Industries shares were worth $1.07 each.

This added insult to injury, with the nickel producer’s share price now down 36% since the market close on 7 March. That day, the share price hit a 2022 high of $1.65. It’s been downhill ever since.

By comparison, the S&P/ASX 200 Index (ASX: XJO) has dropped 5% since 7 March.

Let’s take a look at what is happening with the Nickel Industries share price.

Nickel prices plunge

Nickel Industries shares sank in the fall-out from the short squeeze on nickel in early March.

The price of nickel hit $100,000 on the London Metal Exchange before plunging. Chinese giant Tsingshan Group was reportedly caught up in the short squeeze drama.

Tsingshan Group’s subsidiary Shanghai Decent had an 18% stake in Nickel Industries, prompting fears of sales contract terminations.

However, following discussions with Tsingshan and Shanghai Decent, Nickel Industries informed the market that operations at its nickel projects were unaffected.

Nickel Industries is not the only ASX nickel share to suffer since early March. The Panoramic Resources Ltd (ASX: PAN) share price has slipped 26% since the market close on 7 March. IGO Ltd (ASX: IGO) shares have also descended 16% in this time frame.

Since 8 March, the nickel price has dived 46% according to Trading Economics data. Nickel prices have returned to levels seen prior to the short squeeze.

In early June, Goldman Sachs analysts Nick Snowdon and Aditi Rai predicted nickel prices will rise 20% this year before pulling back due to “fundamental pressures”.

What else is happening at Nickel Industries?

Nickel Industries recently changed its name from Nickel Mines to Nickel Industries. This followed approval from shareholders at the company’s AGM in late May.

The company has an 80% interest in the Hengjaya, Ranger, and Angel nickel projects in Indonesia. Nickel Industries has also signed an agreement for a 70% interest in the Oracle nickel project.

The company reported record quarterly results in late April, providing the Nickel Industries share price with a nearly 14% boost between 27 and 29 April.

Nickel Industries produced 11,166 tonnes of nickel for the quarter, a 10.7% increase. A record EBITDA of US$81.7 million was also achieved, up nearly 19%.

Nickel Industries is planning to become a top 10 global nickel producer in the future. It outlined its growth plans in a recent presentation to the Bank of America Conference in Florida.

The company highlighted its Oracle acquisition, saying it will add “significant scale” and diversify the company’s production footprint.

Nickel Industries share price snapshot

The Nickel Industries share price has risen by 2.4% in the past year. It has fallen 27% year to date.

For perspective, the ASX 200 has tumbled 9.4% in the past year.

Nickel Industries has a market capitalisation of $3.18 billion based on today’s closing share price.

The post The Nickel Industries share price has tumbled 36% since early March. What’s going on? appeared first on The Motley Fool Australia.

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More reading

• Why did the Nickel Industries share price leap 7% on Friday?
• Why are ASX nickel shares tumbling today?
• These were the best performing ASX 200 shares last week

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The ResMed Inc (ASX: RMD) share price was a relatively positive performer on Tuesday.

The sleep treatment focused medical device company’s shares ended the day 0.2% higher at $29.75.

Can the ResMed share price keep rising?

The good news for investors is that this small gain may only be the start for the ResMed share price.

According to a recent note out of Citi, its analysts have a buy rating and $35.50 price target on the company’s shares.

Based on the current ResMed share price, this implies potential upside of 19% for investors over the next 12 months.

What did the broker say?

While Citi has reduced its revenue and earnings estimates to reflect the supply chain issues the company is facing, the broker remains very positive its outlook. This is due to its belief that ResMed will win a permanent additional 10% market share from a major product recall from rival Philips.

In light of this and its current valuation, the broker sees a lot of value in the ResMed share price at the current level.

Its analysts explained:

RMD is trading at PE of ~28x FY24E, below historical avg of ~32x. Maintain Buy. RMD cut its additional device guidance in FY22 by $100m to $200-250m due to the difficulty in sourcing semiconductors as it attempts to fill the void left by the Philips recall (whose device sales were ~US$800m pa).

We forecast $225m in extra sales (from US$360m) in FY22 – we expect this to continue in FY23 where we assume ~US$350m (from US$315m) of extra sales. Despite the short-term impact, we continue to expect ResMed will make a permanent 10% market share gain in devices due to the Philips’ recall.

The post Broker tips ResMed share price to jump 19% appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs names 3 ASX healthcare shares to buy
• 5 things to watch on the ASX 200 on Wednesday
• Experts name 2 excellent blue chip ASX 200 shares to buy
• Why the ResMed share price could jump 25% from current levels
• How to turn $20,000 into $180,000 in 10 years with ASX shares

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Investors have lost over $100 billion in today’s market bloodbath and some ASX 200 retail shares could be worse for wear due to their direct exposure to waning consumer confidence.

The S&P/ASX 200 Index (ASX: XJO) slumped over 4% during lunchtime trade with every sector in the red.

Outlook for ASX 200 retail shares darken

Markets are spooked by a potential hard landing by the US economy. The bears are emboldened by speculation that the US Federal Reserve will make an oversized 0.75% interest rate hike at its next meet.

The aggressive rate hikes could send the world’s biggest economy into a recession. What’s more, the move will pressure our central bank to take more dramatic rate increases too.

Higher interest will add to households’ cost of living pain with the price of everything going up. This leaves consumer discretionary retailers to face the brunt of the market meltdown.

Downgrades leaves no bargain buys

To get a sense of how bad things could get for ASX 200 retail shares, Macquarie looked at what happened during the GFC as the broker downgraded its forecasts for the sector.

Macquarie said:

Our forecasts now reflect the experience of slowing revenue and EBIT margin pressure, as we experienced in 2009.

The economy is in a different position, with low unemployment, low interest rates and high cash balances and this may make the recession behave differently. But as a baseline, rising inflation and plummeting consumer confidence are likely to drag on discretionary retailers.

Hit by downgrades

The silver lining is that the broker thinks Australia will escape a recession, unlike the US. While our economy might not contract for two consecutive quarters (the official definition of a recession), Macquarie reckons inflation here will hit 7%.

Against this backdrop, the broker is urging investors to dump ASX 200 retail shares in the discretionary space for consumer staples shares.

Which ASX 200 retail shares to buy and sell

The broker downgraded the Wesfarmers Ltd (ASX: WES) share price and JB Hi-Fi Limited (ASX: JBH) share price to “underperform”.

It also cut its rating on the Harvey Norman Holdings Limited (ASX: HVN) share price to “neutral”. What saved Harvey Norman from a bigger downgrade was its lower relative valuation and more reasonable consensus estimates.

On the flipside, Macquarie is urging investors to buy into the more defensive ASX supermarket shares. These include the Coles Group Ltd (ASX: COL) share price and Metcash Limited (ASX: MTS) share price.

The post Why are these ASX 200 retail shares lagging the market today? appeared first on The Motley Fool Australia.

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More reading

• Why is the IAG share price smashing the ASX 200 today?
• Here are the 3 most traded ASX 200 shares on Tuesday
• Why BHP, Block, Harvey Norman, and PointsBet shares are sinking
• Is this a stock market crash for ASX 200 shares?
• ASX 200 bank shares tumble: Citi says time to buy

Motley Fool contributor Brendon Lau has positions in Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Harvey Norman Holdings Ltd. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET, Harvey Norman Holdings Ltd., and Wesfarmers Limited. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The ResApp Health Ltd (ASX: RAP) share price is by far one of the best performers on the ASX today.

This comes as the company provided an update on its proposed acquisition by Pfizer Inc (NYSE: PFE), with trading resuming immediately after the announcement.

The global biopharmaceutical giant is proposing a takeover of ResApp via its wholly-owned subsidiary Pfizer Australia Holdings Pty Limited.

At the time of writing, the digital health company’s shares are up 50% to a new 52-week high of 17 cents.

In contrast, the All Ordinaries Index (ASX: XAO) is heavily down by 4.2% to 6,842 points.

What’s driving ResApp shares to a 52-week high?

ResApp’s voluntary suspension in trading was lifted immediately following the company’s latest release.

In its statement to the ASX, ResApp advised that Pfizer Australia has agreed to increase the scheme consideration.

Originally, Pfizer Australia offered to acquire 100% of ResApp’s issued capital for 11.5 cents per share in cash.

However, in a draft report provided to the ResApp board in late May, BDO Corporate Finance said the shares were worth between 14.6 cents and 27.7 cents, with a preferred value of 20.7 cents per share.

Given the initial proposal was substantially lower than the expert’s advice, Pfizer Australia revised its offer after negotiations with ResApp.

As such, Pfizer Australia matched the preferred value of 20.7 cents per ResApp share, totalling $180 million. This represents a 130% premium on the last closing ResApp share price of 9 cents on 8 April.

For the deal to proceed at the proposed offer, ResApp’s COVID-19 algorithm study must satisfy certain readout results. Currently, the COVID-19 cough-based detection tool is being trialled across United States study recruitment sites.

Should ResApp fail to meet the data confirmatory study results, Pfizer Australia’s scheme will be offered at 14.6 cents apiece.

Nonetheless, the ResApp board unanimously recommended that ResApp shareholders vote in favour of the revised scheme at the scheme meeting. This is expected to be held in early to mid-August.

The results of the ResApp confirmatory study and independent statistician review are due on or around 20 June.

Management commentary

ResApp CEO and managing director, Tony Keating said:

The ResApp Board is pleased to announce the renegotiated agreement with Pfizer which represents a material increase in the consideration to be received.

The Board believes this offer provides an attractive premium to the undisturbed ResApp share price, reduces the risk for shareholders by providing certainty through an all-cash offer, while also valuing the upside potential of these COVID-19 results.

ResApp share price snapshot

ResApp shares have surged by more than 240% over the past 12 months.

Year to date, the company’s shares are up by almost 160%.

ResApp presides a market capitalisation of roughly $94.51 million. It has approximately 859.2 million shares outstanding.

The post Here’s why the ResApp share price is rocketing 50% today appeared first on The Motley Fool Australia.

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More reading

• Why Australian Clinical Labs, Lake Resources, PolyNovo, and ResApp are rising
• ResApp share price halted ahead of Pfizer takeover update

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been a day of carnage for the S&P/ASX 200 Index (ASX: XJO) and most ASX 200 shares. As it currently goes, the ASX 200 is down by a shocking 4.14% and is back to just over 6,600 points. But while most ASX 200 shares have copped a commensurate beating alongside the ASX 200, that is most certainly not the case for the Insurance Australia Group Ltd (ASX: IAG) share price.

IAG shares are defying the market’s gloom today. This insurance company is actually in the green, up 0.12% so far today to $4.18 a share. Considering the ASX 200 is down by 4.14%, this means that the IAG share price is outperforming the market by more than 4% – a mean feat for any share at any time.

IAG started the day deep in the red, opening at just $4.02 a share after closing at $4.18 last week. But the company’s fortunes improved throughout the day to the point we see now.

So how are IAG shares managing to pull this comeback off?

How is the IAG share price bucking the ASX 200 today?

Well, we can’t be too certain. IAG hasn’t released any news or announcements directly today (or indeed this month yet).

But what we do know is that IAG shares have been attracting some significant love from some expert investors lately, which could be helping to save the company from the market’s falls today.

Last month, we covered how Michael Maughan of Tyndall Asset Management named insurance companies like IAG as some ASX shares which have significant pricing power, and thus are inherently well-placed to weather the effects of inflation. Here’s some of what Mr Maughan said on IAG:

This current inflationary environment has seen bond yields rise and expectations increase for significant cash rate rises. This means that the interest earnings on the premium float of insurers are rising and will add meaningfully to profits.

But Tyndall Asset Management isn’t the only ASX expert bullish on IAG right now. Last week, we also covered the views of David Cassidy, head of investment strategy at Wilsons. He singled out IAG as his pick of the ASX insurers. Here’s why:

IAG has traditionally been a high-quality insurer, although this has been tested over the past 2 years with COVID, bushfires and perils… We think IAG’s turnaround is on track, and this should lead to strong earnings growth over the next 12 months.

So perhaps investors are taking these kinds of views to heart today, and have chosen to flock to IAG shares in the face of such a brutal market downturn today.

Whatever the reasons for IAG’s strong showing this Tuesday, no doubt investors will be thanking their lucky stars.

At the current IAG share price, this ASX 200 insurance share has a market capitalisation of $10.3 billion, with a dividend yield of 3.17%.

The post Why is the IAG share price smashing the ASX 200 today? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Tuesday
• Is this a stock market crash for ASX 200 shares?
• ASX 200 bank shares tumble: Citi says time to buy
• ASX 200 midday update: Block and Zip crash amid market selloff
• ASX 200 slumps 5% following Wall Street sell-off

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Insurance Australia Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Despite most ASX companies being in the red today, the Polynovo Ltd (ASX: PNV) share price is rising.

During late afternoon trade, the medical device company’s shares are changing hands for $1.21, up 4.76%.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is plummeting by 4.33% to 6,631 points.

Polynovo defies ASX market sell-off

Polynovo investors are shrugging off the wider market slump today.

The company hasn’t made any price-sensitive announcements since its third quarter trading update in early April.

However, insider buying action among senior Polynovo managers has likely propped up the share price and overall sentiment.

In particular, Polynovo chairperson David Williams made a series of purchases from the start of May totalling more than $5 million.

Not only did Williams take advantage of the share price weakness but he’s been averaging down his cost position.

In total, Williams now has more than 24.59 million Polynovo shares spread across a series of portfolios.

The number of buy-ins conducted tells us that Williams believes the company’s shares are trading at an attractive price. This seems to have resonated with investors, which could be why Polynovo is defying the ASX sell-off today.

It is worth nothing that at the start of May, Polynovo shares hit a 52-week low of 83.5 cents.

Polynovo share price summary

Since this time last year, the Polynovo share price has fallen by 56%.

Year-to-date it has fared better, but you’d still be looking at a loss of 25% if you invested at the start of 2022.

Based on today’s share price, Polynovo presides a market capitalisation of approximately $764.25 million.

The post Why is the Polynovo share price rising while other ASX 200 stocks are plummeting? appeared first on The Motley Fool Australia.

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More reading

• Why Australian Clinical Labs, Lake Resources, PolyNovo, and ResApp are rising
• These are the 10 most shorted ASX shares
• ASX 200 midday update: Magellan smashed, Liontown signs Tesla deal
• Appen and PolyNovo tumble after being kicked out of the ASX 200 along with these shares
• These are the 10 most shorted ASX shares

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended POLYNOVO FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Oh, my stars. The S&P/ASX 200 Index (ASX: XJO) has had possibly the worst start to the trading week imaginable for ASX investors this Tuesday. Today has seen the ASX 200 cop an absolute belting. The index is currently down a painful 4.4% to well below 6,700 points. 

But rather than dwelling on that, let’s instead take a look at the shares that are currently topping the ASX 200’s volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Tuesday

Telstra Corporation Ltd (ASX: TLS)

ASX 200 telco Telstra is our first cab off the rank this Tuesday. So far today, a sizeable 20.01 million Telstra shares have been traded on the share market. There hasn’t been any news out of Telstra today.

Thus, we can probably say with conviction that this elevated volume is the result of the painful moves the Telstra share price has gone through so far. At present, the telco is down a nasty 2.24% to $3.72 a share. That’s a depressing move to be sure, but at least it’s outperforming the index.

Liontown Resources Limited (ASX: LTR)

Liontown is next up today. This ASX 200 lithium stock has had a hefty 23.45 million of its shares bought and sold on the markets thus far. Unfortunately, this move also seems to be a consequence of a nasty share price sell-off.

Even more unluckily for investors, Liontown shares have been smashed far harder than the broader market. This company has sold off by a meaningful 7.6% so far today and is now almost back to $1 a share. No wonder so many shares have traded today.

Pilbara Minerals Ltd (ASX: PLS)

Our third and final ASX 200 share today is another lithium stock in Pilbara Minerals. A whopping 39.13 million of this company’s shares have swapped hands as it currently stands. Unfortunately, this seems to be yet another byproduct of a dreadful share price movement.

Pilbara shares have been whacked today, although not quite to the same extent as Liontown. Pilbara has dropped 5.8% so far to $2.12 a share, although the company fell as low as $1.98 this morning.

The post Here are the 3 most traded ASX 200 shares on Tuesday appeared first on The Motley Fool Australia.

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More reading

• Why is the Pilbara Minerals share price down 6% on Tuesday?
• Is this a stock market crash for ASX 200 shares?
• ASX 200 bank shares tumble: Citi says time to buy
• ASX 200 midday update: Block and Zip crash amid market selloff
• ASX 200 slumps 5% following Wall Street sell-off

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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