ASX gains as Nufarm leads, West African Resources declines [Video]

Proactive’s Tylah Tully gives a market wrap for November 14.

The ASX closed 0.47% higher today at 8,231.5 points, with minimal change over the past five days and remaining 1.82% below its 52-week high.

Nufarm shares rose 6% to A$3.88 after the company reported strong growth despite challenging conditions. Its FY24 results indicated an underlying EBITDA of A$313 million at the midpoint of guidance, though it posted a net statutory loss after tax of A$6 million.

West African Resources Ltd (ASX:WAF) fell 7.25% to A$1.38. Earlier this week, the company detailed an exploration update outlining a 10-year production target of 420,000 ounces of gold annually from 2023 to 2033.

Seven sectors posted gains, with information technology leading at 1.81%, reflecting a 71% increase year-to-date. Conversely, the materials sector was the poorest performer, down just under 1%.

Among the small caps sector, gainers today were Metalsgrove Mining Ltd, which reached $0.061, 15.1% higher than yesterday’s close, and Kali Metals Ltd (ASX:KM1), which was as much …