Here's how the ASX 200 market sectors stacked up this week

The ASX 200 gained 1.16% amid one key piece of economic news that drove strong gains in the top two sectors.

a woman struggles to hold a large pile of folders and documents with only her eyes appearing over the top of the pile.

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

Real estate and technology were neck-and-neck in the race for the best-performing ASX 200 market sector this week.

ASX property shares came out on top with a 3.98% gain vs. ASX technology shares at 3.92%.

Overall, seven of the 11 market sectors finished the week higher. The S&P/ASX 200 Index (ASX: XJO) gained 1.16% over the past five trading days to close at 7,049.4 points on Friday.

Let's review the week.

Real estate led the ASX sectors this week

Both the real estate and technology sectors were significantly buoyed by United States inflation data released on Tuesday evening Australian time.

Headline US inflation declined to 3.2% for the 12 months to October, down from 3.7% over the past two months. Core inflation (which excludes volatile items) came in at its lowest level in two years at 4%.

These numbers could signal the end of interest rate rises in the world's biggest economy.

Some of the sector's rapid risers this week were Cromwell Property Group (ASX: CMW) shares, up 18.4%, Centuria Capital Group (ASX: CNI) shares, up 15.1%, Lendlease Group (ASX: LLC) shares, up 9.2%, and Charter Hall Group (ASX: CHC) shares, up 7.9%.

Centuria held its annual general meeting today, where joint CEO John McBain discussed the impact of higher interest rates and rising bond yields in 2023.

McBain said:

Bond yields have risen to levels not experienced in 15 years and all these factors have led to increased volatility across the wider ASX 200 real estate indices and challenging conditions for all companies.

Bell Potter recently initiated coverage on a bunch of ASX REIT stocks. The broker has a buy rating on Centuria Capital shares with a 12-month price target of $1.55. Centuria closed at $1.41 on Friday.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up this week, according to CommSec data.

Over the past five days:

S&P/ASX 200 market sectorChange this week
A-REIT (ASX: XPJ)3.98%
Information Technology (ASX: XIJ)3.92%
Materials (ASX: XMJ)3.11%
Healthcare (ASX: XHJ) 1.68%
Industrials (ASX: XNJ) 1.37%
Consumer Discretionary (ASX: XDJ)0.09%
Consumer Staples (ASX: XSJ)0.07%
Utilities (ASX: XUJ)(0.05%)
Financials (ASX: XFJ)(0.53%)
Communication (ASX: XTJ)(1.33%)
Energy (ASX: XEJ)(1.88%)

Motley Fool contributor Bronwyn Allen has positions in Commonwealth Bank Of Australia. 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

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares finished the trading week on a high this Friday.

Read more »

A businessman stacks building blocks.
Technology Shares

6% gain! What's up with Block shares today?

Block shares are up more than 34% since 2 May.

Read more »

Broker looking at the share price.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why ARB, Block, Mayne Pharma, and Paladin Energy shares are charging higher today

These shares are having a strong finish to the week. But why?

Read more »

A woman puts her hands up as she smashes and breaks through a glass ceiling.
Share Gainers

How these 5 ASX 200 stocks are smashing the benchmark this week

These fives ASX 200 stocks have made some very happy shareholders this week. Here’s how.

Read more »

Bored man sitting at his desk with his laptop.
Share Fallers

Why Catalyst Metals, Duratec, Nufarm, and Rio Tinto shares are dropping today

These shares are ending the week in the red. But why?

Read more »

A smiling woman at a hardware shop selects paint colours from a wall display.
Broker Notes

After its strategy day, what does Macquarie think Wesfarmers shares are worth?

Let's see what the broker is saying about this blue chip.

Read more »

Buy, hold, and sell ratings written on signs on a wooden pole.
Technology Shares

After surging 13% yesterday, are TechnologyOne shares a buy, hold or sell according to Macquarie?

Valuations matter when investing, and Macquarie feels no different.

Read more »