Small caps have resumed their winning ways after yesterday’s dip, and are outperforming their larger peers.

The Small Ordinaries index of Australia’s 101st to 300th biggest companies was up 18.3 points, or 0.56 per cent, at lunchtime, after Monday’s 25.1-point selloff snapped a six-day winning streak.

Meanwhile the ASX200 was up just 6.5 points, or 0.09 per cent, and the Emerging Companies nano-cap index was flat.

Tech stocks were the top performers, collectively gaining 2.4 per cent as Afterpay (ASX:APT) rose 3.0 per cent to $124.94 and Xero (ASX:XRO) climbed 1.5 per cent to $143.34.

The sector is up 12.9 per cent this month as investors rotate back into high-growth companies following a plateauing of bond yields. Surging yields earlier in the year led to the sector declining 11.9 per cent over February and March.

Zip Co (ASX:Z1P), technically classified as a financial company, was up 9.9 per cent to $9.06 after announcing its third-quarter revenue was up 80 per cent to $114.4 million, compared to a year ago.

Energy, materials, industrials, telecom and utilities were all lower.
 

WINNERS

Here are the best performing ASX stocks this morning:

Swipe or scroll to reveal the full table. Click headings to sort.

Code Name Price % Change Volume Market cap
LIO Lion Energy 0.065 132 48,009,059 $ 5,807,250
ILA Island Pharma 0.575 130 7,906,268 $ 10,735,792
CLZ Classic Min 0.0015 50 20,861,050 $ 17,557,191
NPM Newpeak Metals 0.003 50 1,333,333 $ 11,348,323
VIC Victory Mines 0.003 50 2,416,666 $ 11,036,506
OXX Octanex 0.067 49 1,727,282 $ 10,927,073
WKT Walkabout Resources 0.25 39 3,476,988 $ 62,844,056
ANL Amani Gold 0.002 33 27,250,626 $ 16,180,495
NSM Northstaw 0.435 18 16,853 $ 14,800,000
SBR Sabre Resources 0.007 17 340,000 $ 10,098,382
NTD National Tyre&Wheel 0.99 16 564,797 $ 97,150,634
ICN Icon Energy 0.015 15 286,350 $ 7,768,890
MGT Magnetite Mines 0.061 15 42,441,729 $ 151,708,285
TSO Tesoro Resources 0.195 15 1,938,901 $ 84,919,083
CNJ Conico 0.033 14 2,388,553 $ 24,130,284
BAS Bass Oil 0.0045 13 2,725,853 $ 13,368,560
AME Alto Metals 0.1 11 8,830,199 $ 40,523,376
HT8 Harris Technology Gl 0.15 11 486,846 $ 34,424,390
DDD 3D Resources 0.005 11 9,651,379 $ 16,291,674
AXI Axiom Properties 0.06 11 10,000 $ 23,366,538

Lion Energy (ASX:LIO) was up 132 per cent to 6.5c after the Indonesia-focused oil and gas company announced a tripling of its Oseil oil reserves.

Island Pharmaceuticals (ASX:ILA) more than doubled in its debut on the ASX after an IPO that raised $7.5 million at 25c a share. At 12.26pm its shares were trading at 62c, up 148 per cent. The company is working to repurpose an oral antiviral drug to fight mosquito-borne viruses, initially dengue fever.

Walkabout Resources (ASX:WKT) was up 39 per cent to 25c after securing a $US20 million debt funding facility to construct a graphite mine in Tanzania.

National Tyre & Wheel (ASX:NTD) had gained 16 per cent to 99c after announcing that third-quarter trading had remained strong and the company now expects to make between $31 million and $33 million in operating earnings for the six months to June 30.
 

LOSERS

Code Name Price % Change Volume Market cap
PCL Pancontinental Oil 0.002 -33 828,343 $ 18,020,146
MLS Metals Australia 0.002 -20 2,150,000 $ 10,567,970
XTC Xantippe Res Ltd 0.002 -20 500,000 $ 10,186,411
OLH Oldfields Holdings 0.05 -17 15,033 $ 10,062,392
NGY Nuenergy Gas Ltd 0.041 -16 83,366 $ 72,566,819
SCI Silver City Minerals 0.039 -15 10,182,287 $ 22,418,572
TYX Tyranna Res Ltd 0.007 -13 179,000 $ 10,258,885
GGG Greenland Minerals 0.11 -12 6,718,283 $ 167,694,043
AMD Arrow Minerals 0.008 -11 3,000 $ 11,991,436
CIO Connected Io Ltd 0.008 -11 25,000 $ 4,797,717
EQE Equus Mining Ltd 0.009 -10 21,000 $ 18,190,227
GGX Gas2Grid Limited 0.0045 -10 1,125,000 $ 10,007,755
AUH Austchina Holdings 0.01 -9 260,000 $ 17,975,368
CDT Castle Minerals 0.01 -9 3,202,889 $ 8,057,509
GNM Great Northern 0.01 -9 113,723 $ 11,637,116
IHR intelliHR Limited 0.26 -9 229,029 $ 79,203,358
ELT Elementos Limited 0.011 -8 747,438 $ 39,178,215
GED Golden Deeps 0.011 -8 400,000 $ 9,298,217
KP2 Kore Potash PLC 0.022 -8 6,201,521 $ 6,636,131
MRQ Mrg Metals Limited 0.011 -8 5,145,477 $ 18,488,039
OEX Oilex Ltd 0.0055 -8 35,692,523 $ 27,934,602

Oilex (ASX:OEX) was down eight per cent to 0.55c after finalising the sale of its stake in an oil field in India.