Insights

ASX Tech shares are lagging behind the ASX 200 on Friday

It’s a bad day to be an ASX tech share…
The post ASX Tech shares are lagging behind the ASX 200 on Friday appeared first on The Motley Fool Australia. –

The S&P/ASX All Technology Index (ASX: XTX) is trailing the S&P/ASX 200 Index (ASX: XJO) today. While the ASX 200 is gaining 0.32%, right now, the Tech Index is down 0.56%. And the index’s biggest addition is among those leading the decline.

Let’s take a look at the tech index’s bad day.

ASX 200 beats out tech shares

The ASX 200 is beating the Tech Index today as one of the market’s favourite shares is in the red.

The Afterpay Ltd (ASX: APT) share price is faltering today. It has slipped 3.03% at the time of writing, leaving its shares trading for $130.36 apiece.

Another weight on the Tech Index is Novonix Ltd (ASX: NVX) which, before today, had gained 20% this week. The Novonix share price is currently down 0.81%, trading at $4.91.

The 4DMedical Ltd (ASX:4DX) share price is also bringing the sector down. It’s fallen around 7% since Wednesday when it announced a new trial. It is continuing its poor week’s performance by dropping 1.64% today.

Finally, Dicker Data Ltd (ASX: DDR) has lost some of the gains it made yesterday after a number of its directors bought shares in the company on-market. It’s down 3.13% today despite releasing no news.

Fortunately, the Tech Index is also home to soaring Silex Systems Ltd (ASX: SLX) stock. The Silex share price is continuing its incredible run, gaining another 10% on Friday.  Additionally, the IOUPay Ltd (ASX: IOU) share price is up 3.57% — having earlier surged 7% — despite no news having been released by the payment provider.

Also fortunately, though this time for the ASX 200, the mining sector is booming. The ASX 200 hasn’t felt too much impact from the Tech Index’s struggles as Whitehaven Coal Ltd (ASX: WHC), Pilbara Minerals Ltd (ASX: PLS), Rio Tinto Limited (ASX: RIO), and Santos Ltd (ASX: STO) are all in the green.

In fact, the struggling Afterpay share price is bringing up the rear among the ASX’s biggest companies.

The post ASX Tech shares are lagging behind the ASX 200 on Friday appeared first on The Motley Fool Australia.

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More reading

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Here are the 3 most traded ASX 200 shares on Thursday

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and Dicker Data Limited. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Dicker Data Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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