Aust. market buoyant

Press, 30 September 1983, Page 20

Aust. market buoyant

Australian sharemarkets rose widely in heavy trading, ending a two-day slide, despite declines overnight on Wall Street and in world gold and base metal prices, factors which have depressed trading in recent days. The market opened quietly, then surged ahead strongly in late morning trading, faltered mid-afternoon, then put on a closing burst.

The all-ordinaries index finished 5.5 points higher at 721.9, despite the fact many heavyweight mining stocks finished well below their highs for the day. Closing gains were widespread, with the all-resources index finishing 6.3 points higher at 587.9 and the all-industrials index with a gain of 4.4 points to 888.4. National turnover totalled a heavy sAust4o.o million, with off-market sales accounting for $10.3 million.

Advances outnumbered declines by a ratio of nearly two to one.

Highlighting trading was the exercising of a huge number of September options in leading resource stocks, a testimonial to the strong market rise of recent months.

Many of these same market leaders were also the subject of heavy trading among their shares. CRA, CSR, BHP, Woodside Petroleum, WMC and Westpac each accounted for more than sAustl.O million in turnover.

In general trading, some

of the sharpest gains were posted by stocks holding interests in the Jabiru 1-a exploration well, located off the Northern Territory coast. INDUSTRIALS.—ACI, 164; AFL, 130; ANI, 275; ANZ, 544; AGC, 245; APM, 225, ASC Prp, 92; AWA, 387; AdelStm, 405; Ad’tiser, 168; Amatil, 260; Ampol, 188; Ariadne, 33; BHP, 1285; Boral, 330; Brambles, 290; Bundaberg, 315; BurnsP, 265; CIG, 280; CSR, 408; CUB, 303; Carrier, 115;- C’maine, 415; CoalAU, 410; Coles, 348; Comalco, 310; Courtauld, 75; Dunlop, 145; EZI, 610; Elders, 450; Fairfax, 380; Forestwd, 232; GPT, 185; Hardie, 410; Herald, 303; Hooker, 135; Humes, 154; ICI, 200; IndEquit, 400; Jennings, 166; DJones, 305; LLease, 500; MayneNic, 292; McPherson, 122; Monier, 165; PMorris, 410; Myer 162; NatAust, 335; Nat Cons, 105; News Corp, 930; Oakbridge, 125; Olims, 55; Pioneer C, 178; PioneerS, 150; Repco, 119; Rothmans 820; Sleigh, 127; Smith, 395; Soul Pat, 790; TNT, 190; Taubmans, 145; Tooth, 430; Walton, 55; Westpac, 345; Wwths, 248; Wormaid 300.

MlNlNG.—Allstate, 80; Ashton, 165; AustDevl, 57; Bouganvle, 265; CNGold, 800; CRA, 576; Carrßoyd, 130; Consßtle, 485; ERA, 180; Emperor, 330; GMKalg, 1130; GoldCopp, 48; Hill, 50; 52; MIM, 404; MetalsEx, 90; NorthßH, 348; NthFlndr, 125; Pancont, 165; Peko, 720; Poseidon, 590; Queen Mar, 38; RGC, 455; Southland, 33; SthnPac, 23; Tasminex, 56; UCL, 235; WMC, 495; West Sand, 125; Woodsreef, 10. OILS.—AOD, 102; AOG, 170; AmpolEx, 385; Beach, 32; Bridge, 330; Hartogen, 300; L’reach, 11; Magnet, 10; MidEMin, 100; Oil Search, 18; Pancont, 42; Santos, 812; Stirling, 7; Timor, 7; Vamgas, dd, 380; Woodside, 145.