In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for another disappointing decline. At the time of writing the benchmark index is down over 0.6% to 6,120.9 points.
Four shares that have defied the market and pushed higher today are listed below. Here's why they are ending the week with a bang:
The Bingo Industries Ltd (ASX: BIN) share price has risen almost 2.5% to $2.17. This morning S&P Dow Jones Indices announced its September 2018 quarterly rebalance of the S&P/ASX indices. One key change will see this leading waste management company added to the S&P/ASX 200 from September 24. I think this addition is more than deserved and feel Bingo Industries remains a quality buy and hold investment option.
The Domino's Pizza Enterprises Ltd (ASX: DMP) share price has risen 4.5% to $54.67 despite there being no news out of the pizza chain operator. I wouldn't be surprised if this gain is related to short sellers buying shares to close positions. Domino's may be one of the most shorted shares on the Australian share market, but its share price is closing in fast on a 52-week high.
The Pilbara Minerals Ltd (ASX: PLS) share price has stormed 8.5% higher to 76.5 cents. Although there has been no news out of the lithium miner today, it is worth noting that almost all of its lithium peers are posting solid gains today after several days of heavy declines.
The Sigma Healthcare Ltd (ASX: SIG) share price has rebounded from yesterday's heavy decline with a 5.5% gain to 56.5 cents. On Thursday the pharmacy chain operator and distributor's shares fell heavily after the release of a weak first-half result and even weaker medium term guidance. While this has led to Credit Suisse downgrading Sigma's shares to an underperform rating and 48 cents per share price target, some investors don't appear to have been put off. I would suggest investors stay clear of Sigma.
