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

Tech shares led the pack for a second week, clocking a near 10% gain over the fortnight.

A man with grahpics of robot arms, indicating a share price movement in ASX robotics and tech companies

Image source: Getty Images

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Tech shares led the ASX 200 market sectors for the second consecutive week, with a 3.29% gain over the past five trading days. This comes on top of last week's 6.2% rise, so tech investors must be cheering!

The S&P/ASX 200 Index (ASX: XJO) lost 0.28% over the week to finish at 7,643.6 points on Friday.

Seven market sectors finished the week in the green.

Let's review.

Tech shares led the ASX sectors again this week

It's hard to look past Nividia Corp as the catalyst for another great week for ASX tech stocks.

We first learned of Nvidia's "insane result"' for 4Q FY23 early yesterday morning. After that, the S&P/ASX 200 Information Technology Index (ASX: XIJ) began a steady rise, gaining 2.04% of this week's 3.29% lift.

Overnight, the Nvidia share price launched 16.4% higher to a record US$785.38 (and plenty of analysts say it can go much higher over the next year, with the most bullish predicting US$1,400 per share).

Nvidia's 16.4% gain contributed to a 2.94% surge in the NASDAQ, which dragged many other popular US tech stocks higher, including Meta Platforms 3.87%, Amazon 3.55%, and Apple 1.12%.

As usual, our tech sector followed Wall Street today and soared on the exciting momentum.

The biggest of our tech stocks, Wisetech Global Ltd (ASX: WTC) had a ripper week with its share price up 10.38% to $87.95. This follows the release of the company's 1H FY24 results on Wednesday.

Wisetech announced revenue of $500 million, which was 32% higher than 1H FY23. EBITDA leapt 23% to $230 million and underlying net profit after tax (NPAT) was $128 million, up 5%.

For the 15th time in a row, Wisetech raised its dividend. It declared a fully franked interim dividend of 7.7 cents per share, up 17%.

Among the other big ASX 200 tech stocks this week:

  • The Xero Limited (ASX: XRO) share price gained 2.79% to finish at $119.91 on Friday
  • Nextdc Ltd (ASX: NXT) shares lifted 1.47% to $15.17
  • The Altium Limited (ASX: ALU) share price fell 0.62% to $65.60.

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
Information Technology (ASX: XIJ)3.29%
Utilities (ASX: XUJ)1.86%
Consumer Discretionary (ASX: XDJ)1.17%
Financials (ASX: XFJ)0.94%
Industrials (ASX: XNJ) 0.71%
Communication (ASX: XTJ)0.61%
Healthcare (ASX: XHJ) 0.23%
Energy (ASX: XEJ)(1.34%)
Materials (ASX: XMJ) (1.7%)
A-REIT (ASX: XPJ) (2.44%)
Consumer Staples (ASX: XSJ)(3.41%)

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, WiseTech Global, and Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has positions in and has recommended WiseTech Global and Xero. The Motley Fool Australia has recommended Amazon, Apple, Meta Platforms, and Nvidia. 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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