Market report November 19: ASX gains 0.89% as Technology One surges 10.84% [Video]

Proactive’s Tylah Tully gives a market wrap for November 19.

The ASX closed 0.89% higher today at 8,403 points. Over the past five days, the index has gained 1.43% and is currently 0.86% below its 52-week high.

Technology One was the best-performing stock, rising by 10.84% to $29.66. This surge followed the release of its full-year results for 2024, which showed a profit increase of 18%, reaching $152.9 million. The company also reported a 20% growth in Annual Recurring Revenue (ARR), which now stands at $470.2 million.

Elders experienced the largest decline, falling by 10.06% to $7.78. The drop occurred after the company announced the completion of its Institutional Entitlement Offer, raising $143 million.

All sectors finished in positive territory today. The Information Technology sector was the strongest performer, rising by 3.12%, driven by gains in WiseTech Global, which increased by 2.37%, and Xero, which rose by 3.71%. The Communication Services sector followed with a 1.52% gain, while the Energy …