The Australian Securities Exchange (ASX) closed at 5,101.5 points today, up 32.3 points from the previous session. The market rallied today after six straight days of losses — that is the longest losing streak since July 2012, The Sydney Morning Herald reported.
Daniel Young, head of sales trading at Citi, told the news outlet that today’s rally was the result of the market being oversold over the past week.
Boart Longyear (ASX:BLY) is another company that rose on the ASX today. The drilling services and equipment provider for mining and drilling companies gained $0.02, or 7.02 percent, to reach $0.31. Similarly, Buru Energy (ASX:BRU), an oil and gas exploration and production company operating in Western Australia, gained $0.08, or 5.71 percent, to hit $1.48.
Among the companies that suffered losses on the ASX today is Evolution Mining (ASX:CAH), an Australia-based gold company that owns and operates five gold mines in Queensland and Western Australia. The company lost $0.03, or 4.27 percent, to hit $0.56.