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

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

| More on:
Young female AGL investor leans back in her desk chair feeling relieved after the AGL share price soared today

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

More on Share Market News

a hand reaches up from a large pile of papers.
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Tuesday

The ASX's lithium losers are leading our trading volume charts today...

Read more »

A group of people in suits and hard hats celebrate the rising share price with champagne.
Resources Shares

3 ASX mining shares rocketing higher today on new finds

The three miners have each reported promising new drill results.

Read more »

A mining worker wearing a hard hat, orange high vis vest and blue long-sleeved shirt raises his fists in celebration with an excited expression on his face
Share Market News

The BHP share price now trades on a fully franked dividend yield of 11%

The mining giant reported the second biggest profit in its history today.

Read more »

red percentage sign with man looking up which represents high interest rates

ASX 200 shrugs off prospect of further rate rises revealed in RBA minutes

The RBA board expects inflation in Australia to peak later and higher than it previously thought.

Read more »

Smiling man with phone in wheelchair watching stocks and trends on computer
Share Market News

5 things to watch on the ASX 200 on Tuesday

Here's what to expect on the ASX 200 on Tuesday...

Read more »

Young woman using computer laptop smiling in love showing heart symbol and shape with hands. as she switches from a big telco to Aussie Broadband which is capturing more market share
Share Market News

Here are the top 10 ASX 200 shares today

These ASX 200 stocks outperformed all their peers on Monday.

Read more »

Group of friends trading stocks on their phones. symbolising the 3 most traded ASX 200 shares today
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Monday

One of our most-traded ASX 200 shares has dropped 12 % today.

Read more »

a man sits in casual clothes in front of a computer amid graphic images of data superimposed on the image, as though he is engaged in IT or hacking activities.

Will the next era of computing break the Bitcoin price or boost it?

Cryptos have taken a beating over the past months as interest rates around the world ratcheted higher. But is there…

Read more »