Tech stocks raise S&P/ASX 200, energy sector weighs

ASX 200 was lifted to a 0.9% higher close by tech stocks while the energy sector weighed on the index. Challenger soars after Apollo builds stake.

The number of listed entities added to the ASX more than doubled last financial year compared to the year prior. Picture: Gaye Gerard

Welcome to the Trading Day blog for Wednesday, July 7. The S&P/ASX 200 gained 0.9% on lower than normal volume. Nine out of 11 sectors were higher, led by Information Technology which rallied by 2.82%.

Energy stocks were lower, the sector losing almost 2%. Oil prices plunged after OPEC’s failure to agree on lifting output, while European share markets also closed lower. Wall Street retreated from record highs.