My interpretation, is that in the surging markets, some (more active) investors will leave defensive stocks, to jump into the once that were oversold, such as bank this time around.
This in turn brings the defensive's (TLS) SP down, making it more attractive to value and dividend seeking investors to support the defensive stock's SP.
I would be very surprised, if market kept rising and TLS was stagnant or falling.
poor performance this week, page-2
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 (20min delay)
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Last
$3.88 |
Change
0.000(0.00%) |
Mkt cap ! $44.83B | |||
| Open | High | Low | Value | Volume |
| $3.90 | $3.92 | $3.86 | $71.70M | 18.41M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 38826 | $3.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.89 | 227427 | 7 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| TLS (ASX) Chart |