3 ASX 200 shares holding up amidst today's market crash

The market might be free falling but these ASX 200 shares are standing tall.

| More on:
holding up phone in front of stock market

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is getting pummeled on Monday, down 2.22% to a 3-month low of 7,239.

Most sectors are in deep red, with the exception of the utilities sector.

Headlining today's losses are the energy, materials and information technology sectors, with heavyweight names such as BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), Afterpay Ltd (ASX: APT) and Xero Limited (ASX: XRO) down between 2.25% and 5.6%.

While the market has managed to pull a vast majority of ASX 200 shares in negative territory, here are the few that have managed to stand tall.

Ausnet Services Ltd (ASX: AST)

The Ausnet share price has had a little help staying afloat amidst today's sharp selloff.

The company received an unsolicited, indicative and non-binding takeover offer from Brookfield Asset Management to acquire 100% of Ausnet at $2.50 per share.

As a result, the Ausnet share price jumped 17.93% to $2.34.

Interestingly, the S&P/ASX Utilities (INDEXASX: XUJ) is the only sector that was positive on Monday.

In addition to Ausnet's booming share price, the broader utility sector is holding up well with large cap players such as Meridian Energy Ltd (ASX: MEZ), APA Group (ASX: APA) and Infratil Ltd (ASX: IFT) down just 0.20%, 0.28% and 1.27% respectively.

Endeavour Group Ltd (ASX: EDV)

The Endeavor share price is up 3.18% to $6.65 on no price-sensitive news.

Endeavour shares have struggled to grasp any upside following the release of its FY21 results on 26 August.

This is where the company flagged significant volatility in the first 8 weeks of FY22. Retail and hotels sales were tracking a respective 1.7% and 7.3% lower than FY21 due to the pandemic.

Wesfarmers Ltd (ASX: WES)

Investors seem to be holding onto their Wesfarmers shares despite the panic taking place across the ASX 200.

At the time of writing, the Wesfarmers share price has managed to eke out a gain of 0.09% to $57.33.

Wesfarmers has tumbled about 10% since the release of its FY21 results on 27 August.

The company cited similar challenges as Endeavour, with management warning that:

Given the impact of lockdowns in recent months and the prospect of continued trading restrictions, earnings in the Group's retail businesses during the first half of the 2022 financial year may be below the prior corresponding period.

Despite a weaker near-term outlook, investors might have used its recent selloff as a buying opportunity following a significant uptick in volume last Thursday and Friday.

During the two days, a respective 2.92 million and 4.06 million shares traded hands compared to its 10-day average of around 2.1 million shares.

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Xero. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another momentous session for ASX shares this Friday.

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why BHP, Catalyst Metals, Mesoblast, and Pilbara Minerals shares are shooting higher

These shares are ending the week with a bang. But why?

Read more »

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

The Mesoblast share price just rocketed 38%! Here's why

ASX investors just sent the Mesoblast share price up 38%. But why?

Read more »

A businessman stacks building blocks.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares hit a new record high today.

Read more »

A man sees some good news on his phone and gives a little cheer.
Share Gainers

Why Auckland Airport, Australian Ethical, Breville, and Clarity shares are charging higher

These shares are having a better day than most on Thursday. But why?

Read more »

A man sits on a bench atop a mountain with a laptop, making investments with a green ESG mind.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors endured a day to forget this hump day.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why Droneshield, Meteoric Resources, Mount Gibson, and Tyro shares are charging higher

These shares are having a good time on hump day. But why?

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back in the black this Tuesday.

Read more »