ASX 200 healthcare shares lead a weaker market amid 82% chance of a rate hike

Healthcare shares gained 3.76% while the ASX 200 fell 0.11% last week.

ASX 200 healthcare shares led the 11 market sectors last week with a 3.76% gain over the five trading days.

The broader S&P/ASX 200 Index (ASX: XJO) slipped 0.11% over the week to 8,731.2 points on Friday.

The market was volatile on increased bets of another interest rate hike due to persistently high inflation.

The market is pricing an 82% chance that the Reserve Bank will lift rates by another 0.25% at the end of the month.

Last week, the US Fed raised rates for the first time in three years, and Japan also increased rates to a 30-year high.

Elevated oil prices due to the US-Iran conflict continue to contribute to stubborn inflation worldwide.

Last week, eight of the 11 market sectors finished in the red.

Let's review.

Six smiling health workers pose for a selfie.

Image source: Getty Images

Healthcare led the market sectors last week

Healthcare is continuing its rapid rebound following a 29% slump over the 12 months to early June.

The S&P/ASX 200 Health Care Index (ASX: XHJ) hit a 9-year low on 3 June.

Healthcare shares have ripped 43% since then compared to a 0.6% fall for the ASX 200.

The CSL Ltd (ASX: CSL) share price popped 5.08% to $175.59 last week, and it's up 90% since 3 June. 

Resmed CDI (ASX: RMD) shares rose 5.15% to $31.87, and are 23% higher since 3 June. 

Pro Medicus Ltd (ASX: PME) shares jumped 3.18% to $169.57 on Friday, and are up 6% since 3 June. 

The Ramsay Health Care Ltd (ASX: RHC) share price lifted 3.44% to $55.39, and is up 52% since 3 June. 

Sonic Healthcare Ltd (ASX: SHL) shares edged 1.26% higher to $19.24, and are up 2% since 3 June.

Telix Pharmaceuticals Ltd (ASX: TLX) shares jumped 13.91% to $17.85 on Friday, and are up 46% since 3 June.

The 4DMedical Ltd (ASX: 4DX) share price leapt 28.27% to $4.31, and is up 14% since 3 June. 

Chemist warehouse owner Sigma Healthcare Ltd (ASX: SIG) bucked the trend last week.

Sigma Healthcare shares fell 3.04% to $2.55, and are 12% lower since 3 June. 

The Cochlear Ltd (ASX: COH) share price also fell 0.18% to $133.90 last week.

Cochlear shares have recovered 41% since 3 June. 

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
Healthcare (ASX: XHJ)3.76%
Utilities (ASX: XUJ)0.5%
Communication (ASX: XTJ)0.03%
Industrials (ASX: XNJ) (0.02%)
Consumer Discretionary (ASX: XDJ)(0.14%)
Financials (ASX: XFJ)(0.21%)
Materials (ASX: XMJ)(0.32%)
Consumer Staples (ASX: XSJ)(0.74%)
Information Technology (ASX: XIJ)(0.81%)
Energy (ASX: XEJ)(1.29%)
A-REIT (ASX: XPJ)(1.89%)

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 CSL, Cochlear, ResMed, and Telix Pharmaceuticals. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended CSL, Cochlear, Pro Medicus, Sonic Healthcare, and Telix Pharmaceuticals. 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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