Life360, NextDC, and Siteminder shares reach new highs amid tech sector lead last week

ASX technology shares led the market with a 1.55% increase while the ASX 200 fell 1.03%.

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Key points

  • ASX 200 tech shares led the market last week with a 1.55% rise, thanks to a strong performance on Friday following a record high on the Nasdaq Composite Index.
  • Key ASX 200 tech stocks like Life360, Nextdc, and Siteminder reached new highs, as did several sector small-caps like Hansen Technologies and Eroad
  • While the tech sector thrived, the S&P/ASX 200 Index dropped 1.03% for the week, largely due to a 4% fall in the energy sector following the withdrawal of the takeover bid for Santos.

ASX 200 tech shares led the 11 market sectors last week with a 1.55% gain over the five trading days.

On Friday, several ASX tech stocks ripped to new highs after the Nasdaq Composite Index (NASDAQ: .IXIC) hit a record the previous night.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) fell 1.03% over the week to close at 8,773.5 points on Friday.

The energy sector was the biggest drag last week, falling 4%, after the foreign takeover bid for Santos Ltd (ASX: STO) was withdrawn.

Just three of the 11 market sectors finished the week in the green.

Let's recap.

ASX 200 technology shares led the market last week

Tech sector darling Life360 Inc (ASX: 360) was among 9 ASX 200 shares that reached multi-year high share prices on Friday.

The Life360 share price rose 5.3% over the week to close at $51.96, after reaching a record $52.40 during intraday trade on Friday.

Nextdc Ltd (ASX: NXT) shares set a new 52-week high of $18.22 on Friday, and rose 2.8% over the week to finish at $17.81.

The Siteminder Ltd (ASX: SDR) share price reached a four-year high of $7.20 on Friday before closing at $7.14, up 3% over the week.

The Betashares S&P/ASX Australian Technology ETF (ASX: ATEC) also reached a new record of $33.42 per unit on Friday.

ATEC, which seeks to track the S&P/ASX All Technology Index before fees, was among 68 ASX ETFs that smashed records on Friday.

Several ASX small-cap tech shares also hit new highs on Friday.

The Hansen Technologies Ltd (ASX: HSN) share price closed at a four-year high of $6.22 on Friday, up 7.4% for the week.

Energy One Ltd (ASX: EOL) shares reached an all-time high of $18 on Friday before closing at $17.95, up 11.8% over the week.

Infomedia Ltd (ASX: IFM) shares closed at a 52-week high of $1.72, up 2.4% over the week.

Eroad Ltd (ASX: ERD) shares reached a three-year high of $2.63 on Friday before finishing the session at $2.55, up 8.1% last week.

Other tech sector price changes

Turning our attention to large-cap ASX 200 tech shares, WiseTech Global Ltd (ASX: WTC) lifted 1.4% over the week to close at $96.30.

The Xero Ltd (ASX: XRO) share price inched up 0.3% to $162.59.

TechnologyOne Ltd (ASX: TNE) shares rose 0.8% to $38.35.

Codan Ltd (ASX: CDA) shares fell 3.1% to $29.98.

The Megaport Ltd (ASX: MP1) share price lifted 0.8% to $15.01.

The Catapult Sports Ltd (ASX: CAT) share price increased 4.4% to close at $7.09.

The Iress Ltd (ASX: IRE) share price rose 2.4% to $9.34.

Macquarie Technology Group Ltd (ASX: MAQ) shares rose 5.5% to $65.07 ahead of their departure from the ASX 200.

Macquarie Tech is among 9 shares leaving the ASX 200 in the next index rebalance, effective tomorrow.

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 sectorChange last week
Information Technology (ASX: XIJ)1.55%
Consumer Discretionary (ASX: XDJ)0.83%
Utilities (ASX: XUJ)0.68%
Financials (ASX: XFJ)(0.96%)
A-REIT (ASX: XPJ)(0.97%)
Industrials (ASX: XNJ)(1.03%)
Communication (ASX: XTJ)(1.13%)
Materials (ASX: XMJ)(1.54%)
Healthcare (ASX: XHJ)(1.65%)
Consumer Staples (ASX: XSJ)(1.82%)
Energy (ASX: XEJ)(4.06%)

Motley Fool contributor Bronwyn Allen has positions in Betashares S&P Asx Australian Technology ETF. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Catapult Sports, Energy One, Infomedia, Life360, Megaport, SiteMinder, Technology One, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Catapult Sports, Life360, SiteMinder, WiseTech Global, and Xero. The Motley Fool Australia has recommended Technology One. 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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