ASX Small & Micro Cap Industrials on the Move in October

November 10, 2023

Markets were weak in October with the ASX All Ordinaries Accumulation Index down 3.85%. Small and micro cap stocks underperformed large cap stocks with the S&P/ASX Small Ordinaries Accumulation Index (“Small Ords”) down 5.45% and the S&P/ASX Emerging Companies Accumulation Index (“Emerging Companies Index”) down 4.56%. Small and micro cap stocks have underperformed in CY2023 thus far with the Small Ords down 6.1% and the Emerging Companies Index down 9.7%. This compares to the S&P/ASX 200 Accumulation Index which is largely flat.

While the market was weak, there were a number of companies that experienced strong share price movements in October with some of the large increases driven by corporate transactions. The biggest mover in the coverage universe for the month was Halo Technologies Holdings Ltd (ASX: HAL) with the share price up 258.3%. There was no news flow that drove this movement with the Company stating they were not aware of what was driving the move.

In this edition of the ASX Small & Micro Cap Industrials newsletter we take a look at five companies that experienced positive share price moves during the month and the news flow driving the moves.