Hi - the large trades were because of MSCI Australia Index rebalancing. See the note below:
-- Changes in index house MSCI's country indexes has sparked some heavy trading at the close on Tuesday. Big lines of Qantas Airways and WiseTech Global stock hit the market late in the day, including a $480 million parcel of Qantas shares and a $257 million trade of WiseTech. Both crossed in line with the Tuesday closing price. It was Qantas' biggest day's trade by volume in more than a decade and WiseTech's biggest since it listed in 2016, according to Bloomberg data. Traders said the big tickets were sparked by changes to the MSCI Australia Index, which were effective as at close of trading on Tuesday. It is reviewed twice a year, in May and November. MSCI added Qantas and WiseTech to the index and deleted Bank of Queensland. The MSCI Australia Index is designed to measure the performance of Australia's large and mid cap segments and has about 70 members.
There was also some unusual trading at the smaller end of the market to reflect changes to the MSCI Australia Small Cap Index. MSCI's additions included Austal, Avita Medical, Bank of Queensland, Centuria Metropolitan REIT, Ecofibre, EML Payments, IMF Bentham, Ingenia, iSignthis, Perseus Mining, Polynovo and Ramelius Resources. Deletions included OFX Group, Speedcast, Syrah, Wagners and WiseTech.
SDA Price at posting:
84.3¢ Sentiment: Hold Disclosure: Held
