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Sharemarket snapshot shows this was not the winter of our discontent!

For many parts of Australia the drought seems to be ending, with many areas getting good rainfall in recent weeks. Many believe the lean times are over for Australia's sharemarket as well.

Six months ago investors nervously watched the war in Iraq and the market drifted to a 4 year low. Six months later and investors are showing more confidence as the market has gained steadily to levels not seen for over a year.

Since March the S&P/ ASX 200 has risen by 10% to 3170. ASX saw its highest ever level of turnover during September, with over $55B worth of shares changing hands compared to $44B in March. 

The table below shows some highlights:

Market performance 

  31 Mar 03 30 Sep 03 Change
S&P/ASX 200  2885 3170 10%
Domestic mkt cap $646B $727B 13%
No. of equity trades 1.2M 1.6M 33%
Avg value of a share $3.65 $2.08 -43%
Turnover / month $48B $55B 15%
Retail participation 44% 58% 16%
No. of contracts traded 1.57M 1.68M 7%
Ratio of puts / calls 88% 73% 15%

Of course, how long this will last no one can say, but figures such as these are certainly an encouraging sign that the highly publicised bear market may be over.

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