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

ASX technology shares led the market with a 2.48% increase last week.

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 November 3, 2024 5:00 am AEDT

Tech shares led the ASX 200 market sectors last week with a 2.48% uplift over the five trading days.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) lost value, falling by 1.2% to finish at 8,118.8 points.

Only two of the 11 market sectors finished the week in the green.

Let's review.

A view of competitors in a running event, some wearing number bibs, line up together on a starting line looking ahead as if to start a race. — Image source: Getty Images

Technology shares led the ASX sectors last week

WiseTech Global Ltd (ASX: WTC) shares rose by 5.54% last week to finish at $118.50 apiece on Friday.

The ASX 200's biggest tech stock has experienced much volatility of late due to the media storm over CEO Richard White's personal life.

The Wisetech share price took a dive of more than 25% between 15 October and 24 October.

White's subsequent decision to step down saw the stock begin its rebound. He is now taking some leave before returning as a consultant for the company he founded 30 years ago.

There was no price-sensitive news from Wisetech last week, so it appears the share price rise is simply a continuation of the stock's recovery.

Nuix Ltd (ASX: NXL) shares ripped 9.42% higher last week to finish at $7.55 apiece on Friday.

This was despite no news from the software company that Blackwattle Investment Partners describes as having "arguably the best exposure to the AI thematic" of all ASX shares.

Macquarie Technology Group Ltd (ASX: MAQ) shares rose 7.5% over the week to finish at $85. The company had no price-sensitive news last week but released its annual report on Monday.

The Life360 Inc (ASX: 360) share price increased by 3.31% to close at $22.18 on Friday. The social networking app's owner did not provide any news last week.

The Codan Ltd (ASX: CDA) share price rose 1.42% to finish at $15.72. The electronics solutions company did not announce any news last week.

The NextDC Ltd (ASX: NXT) share price lifted 0.49% to close at $16.26, with no news released last week.

My colleague Zach describes NextDC as being "at the forefront of Australia's data centre scene" and "a front-runner among investors looking for exposure to artificial intelligence (AI) and cloud computing".

TechnologyOne Ltd (ASX: TNE) shares lifted 0.082% to $24.31 apiece.

The Xero Ltd (ASX: XRO) share price fell 0.56% to $148.21. However, on Tuesday, the stock hit a new 52-week high of $152.49.

My Fool colleague James reports that broker Goldman Sachs has a conviction buy rating on Xero shares with a 12-month price target of $201. This implies a potential 35%-plus upside over the next year.

ASX 200 market sector snapshot

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

Over the five trading days:

S&P/ASX 200 market sector	Change last week
Information Technology (ASX: XIJ)	2.48%
Materials (ASX: XMJ)	0.42%
Consumer Discretionary (ASX: XDJ)	(0.15%)
A-REIT (ASX: XPJ)	(0.72%)
Communication (ASX: XTJ)	(1.11%)
Industrials (ASX: XNJ)	(1.17%)
Energy (ASX: XEJ)	(1.35%)
Financials (ASX: XFJ)	(1.58%)
Healthcare (ASX: XHJ)	(2.75%)
Utilities (ASX: XUJ)	(3.1%)
Consumer Staples (ASX: XSJ)	(5.47%)

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