3 ASX 200 shares that avoided today’s sell-off

Amid a sea of red, some shares managed to hold their own…

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Key points

  • It was a bloodbath on the ASX today, but these three shares held the line
  • There's been positive sentiment around each share leading up to today
  • Despite these performers, there have been major losses realised on the Australian markets today

The benchmark S&P/ASX 200 Index (ASX: XJO) ended the day a substantial 3.55% in the red at 6,686 points on Tuesday.

The index is now down more than 10% this year to date. The hot-running energy sector was the worst performer on Tuesday, with the S&P/ASX Energy Index (ASX: XEJ) sinking 4.88%.

However, a few ASX 200 shares held the fort today. While their counterparts endured losses, these three were among those that avoided the sell-off.

Computershare Ltd (ASX: CPU)

The Computershare share price ended the day 1.55% higher at $23.53.

This ASX 200 tech share has been broadly trending upwards since bouncing off a low of $22.77 on 25 May. The stock has certainly caught the attention of portfolio managers in recent times as well, my Foolish colleague Tony Yoo wrote last month.

Speaking to Livewire, Tribeca portfolio manager Jun Bei Liu said Computershare would be a beneficiary of rising interest rates.

That sentiment was echoed by Fairmont Equities managing director Michael Gable, Yoo wrote, citing Gable’s blog.

Despite winding back in the past month, the Computershare share price is still up 17% this year to date.

Crown Resorts Ltd (ASX: CWN)

The Crown Resorts share price spent plenty of time in the green today before ending the day flat at $13.05. The ASX 200 share cruised past its 52-week high last week and has been in an uptrend these past six to eight months.

The Crown share price has rallied since 9 June, when Crown provided an update on its proposed takeover by private equity firm Blackstone.

The acquisition has now received approval from the Victorian Gambling and Casino Control Commission and New South Wales Independent Gaming and Liquor Authority.

The nearly $9 billion acquisition is nudging forward to being completed.

Uniti Group Ltd (ASX: UWL)

Finally, the Uniti share price spiked in early trade and closed 0.41% higher at $4.95 on no new updates.

Investors bid the share price up in March from its 52-week low of $3.05, with investors now realising a tidy gain since that point.

It caught buyers’ attention again in April. This time, it was after Uniti announced the Morrison/Brookfield Consortium sweetened its deal to acquire the telecommunications infrastructure company.

The consortium agreed to acquire the ASX 200 share for a cash consideration of $5.00 per share, less any dividends.

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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