ASX200 hits fresh record closing high of 8444.3 points

The Australian sharemarket cracked a fresh record high on Thursday on the back of a surge in the big banks and healthcare stocks.

The Australian sharemarket cracked fresh records on Thursday, with the big banks and healthcare giants propelling the bourse to intraday and closing highs.

The benchmark ASX200 jumped 37.6 points, or 0.45 per cent, to close at 8444.3 points after hitting an intraday high of 8477, while the broader All Ordinaries index climbed 40.4 points, or 0.47 per cent, to settle at 8700.

The lift was concentrated in the healthcare and financials sectors, which advanced 1.61 per cent and 0.8 per cent, respectively.

Biotech giant CSL lifted 1.58 per cent to $285.18 a share, ResMed rose 1.26 per cent to $38.59 and Sigma Healthcare jumped nearly 3 per cent to $2.78.

Pro Medicus was the benchmark’s top performer, soaring 8.66 per cent to a record high of $248.18 after announcing a $330m deal with US healthcare provider Trinity Health.

Commonwealth Bank led the big banks with a 0.64 per cent rise to $158.58, while NAB gained 0.87 per cent to $39.53, Westpac added 0.81 per cent to $33.40 and ANZ rose 0.35 per cent to $31.50.

The big miners were mixed as Singapore iron ore futures slipped in afternoon trading to $102.45 a tonne.

BHP lifted 0.73 per cent to $40.07, Fortescue edged up 0.27 per cent to $18.70, while Rio Tinto lost 4c to $117.14.

The energy sector booked a 0.32 per cent fall as oil prices held largely steady overnight.

The ASX200 recorded fresh highs on Thursday. Picture: NewsWire / Max Mason-Hubers

Woodside Energy added 2c to $24.39, while Santos lost 0.75 per cent to $6.59.

The record day bucked a weak session on Wall St overnight on Wednesday, with the US market slipping ahead of the Thanksgiving holiday weekend.

The Dow Jones fell 138 points, or 0.31 per cent, to close at to 44,722, while the S and P 500 index lost 0.38 per cent to 5998 and the tech-heavy Nasdaq declined 0.6 per cent to 19,060.

A hotter-than-expected US inflation print likely spooked investors, igniting the possibility the Federal Reserve might hold off on an expected quarter-point interest rate cut at its December meeting.

But Moomoo market strategist Jessica Amir shrugged off Wednesday’s decline and argued November’s powerful rally still had room to run.

“Consider why investors might have been taking profits, meaning markets could fall before going back up,” she said.

“Well fresh data came out affirming the US Federal Reserve doesn’t need to hurry to cut interest rates.

“Economic growth data showed the US economy grew at 2.8 per cent in the quarter, driven by a bump in consumer spending.

“That’s positive and what Wall Street hoped for.”

Gaming company Star Entertainment was the benchmark’s worst performer on the November 28, 2024 trading day. Picture: NewsWire / Glenn Campbell

In corporate news, casino giant Star Entertainment tumbled 7.14 per cent to 20c after reporting a loss of $27m for the first four months of the 2025 financial year.

The tumble made Star the benchmark’s biggest laggard for the day.

In an address to shareholders at the company’s AGM, Star chair Anne Ward warned of “near-term liquidity challenges” and the “broader overall financial viability” of the business.

“Agreeing with corporate lenders on a revised lending package has provided some space to work through the immediate liquidity situation but there is more to be done as outlined in our recent market disclosures and this work will continue in earnest in 2025,” she said.

Year-to-date, stock in Star has now collapsed 63 per cent.

Webjet Group slumped 7.69 per cent to 78c after the ACCC announced it had commenced proceedings in the Federal Court against the travel booking company.

The competition watchdog alleges Webjet made false and misleading representations to consumers about flight prices and bookings.

Insurance giant IAG leapt 3.55 per cent to $8.47 after stating it would purchase the underwriting business of Queensland’s RACQ for $855m.

The Aussie dollar lost 0.09 per cent to buy US64.9c at the closing bell.

Originally published as ASX200 hits fresh record closing high of 8444.3 points