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

ASX REITS and property shares led the 11 market sectors last week alongside a new record high for the ASX 200.

Bronwyn Allen

Author bio Bronwyn has 28 years of experience in journalism, copywriting, and media relations. She began her career as a reporter with News Corporation in Sydney in 1997. She later worked for two real estate corporations in communications and PR roles, then started her own freelance copywriting and publicity business. A keen shares investor, Bronwyn joined the Motley Fool Australia team as a copy editor and writer in June 2021. Areas of expertise ASX shares and ETFs News writing Macroeconomic trends Real estate Education Diploma in Journalism, Macleay College Social media LinkedIn Favorite investment quote "Don't look for the needle in the haystack. Just buy the haystack." — John C. Bogle, Vanguard founder and pioneer of index investing for ordinary investors

Published March 31, 2024 5:00 am AEDT

ASX property shares and real estate investment trusts (REITs) led the ASX 200 market sectors last week, with a 3.09% gain over the four trading days leading up to the Easter long weekend.

The S&P/ASX 200 Index (ASX: XJO) rose 1.73% over the week to finish at 7,896.9 points on Thursday.

Most of the week's gains occurred on Thursday when the ASX 200 reset its previous high that was hit on 8 March. The benchmark index went to an intraday peak of 7,901.2 points.

This followed a strong night on Wall Street, with the S&P 500 rising 0.9% to reset its own record close.

Share prices are rising because investors are feeling pretty confident that inflation is on a sustained downward trajectory, raising hopes of interest rate cuts soon.

Many economists in Australia are tipping a rate cut late in the second half of the year.

Investors were also buoyed by a better-than-expected February earnings season, with profits weaker overall but dividends still plentiful.

And the market remains excited about the potential of artificial intelligence and other major investment thematics such as uranium and renewable energy.

Ten of the 11 market sectors finished the week in the green.

Let's recap.

Hands grabbing for high rung on a ladder pointing to the sky — Image source: Getty Images

Property shares led the ASX sectors last week

A bunch of ASX 200 shares hit new annual peaks on Thursday, including the four biggest property shares.

Goodman Group (ASX: GMG) shares rose by 5.51% over the four days to finish the week at $33.81 per share. The industrial property specialist hit a new 52-week high of $34.07 on Thursday.

Scentre Group (ASX: SCG) shares also hit a new 52-week high on Thursday at $3.42. The stock closed at $3.39, up 0.59% over the four trading days.

Stockland Corporation Ltd (ASX: SGP) shares gained 1.46% to finish at $4.85 on Thursday. It also reached a new 52-week high of $4.90 on Thursday.

Vicinity Centres (ASX: VCX) shares rose 1.66% to close at $2.13 on Thursday after hitting an intraday 52-week high of $2.15.

ASX 200 market sector snapshot

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

Over the four trading days:

S&P/ASX 200 market sector	Change last week
A-REIT (ASX: XPJ)	3.09%
Energy (ASX: XEJ)	2.84%
Healthcare (ASX: XHJ)	2.83%
Consumer Staples (ASX: XSJ)	2.66%
Industrials (ASX: XNJ)	2.14%
Materials (ASX: XMJ)	2.05%
Communication (ASX: XTJ)	1.23%
Consumer Discretionary (ASX: XDJ)	1.15%
Utilities (ASX: XUJ)	1.13%
Financials (ASX: XFJ)	0.95%
Information Technology (ASX: XIJ)	(0.7%)

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