• ResApp leads the market with successful COVID-19 screening results
  • Mining and Energy stocks drive strong gains on the ASX

Bullish momentum continued in local markets on Tuesday, with the ASX microcap Emerging Companies index on track to post its fifth straight winning session into midday trade.

Ahead of the markets wrap, a quick detour to the Ecuadorian jungle, where scientists stumbled across what they thought was another mute toad.

As it turned out, this one talks (or sings to be precise).

For about 100 years, the Rhinella festae toad was believed to be a mute version of the species owing to its distinct lack of a vocal sack.

However, the unique toad in question had still found a way to produce sound by moving its chin.

From the jungle to Sydney’s Bridge St (home of the ASX), there were similar gains at the big end of town this morning where the ASX 200 climbed by more than 1%.

Following yesterday’s tech-led rally, the local index’s core sectors — mining, energy and financials — took the lead today.

Iron ore majors rose strongly alongside gold stocks, while the big banks also outperformed.

That offset falls in big tech bellwether (and Afterpay parent) Block Inc (ASX:SQ2), which eased back today following a barnstorming ~60% from its February recent lows at the start of Russia’s invasion of Ukraine.
 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for March 22 [intraday]:

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Digital health company ResApp (ASX:RAP) led the market in morning trade with a gain of more than 50%, after coming out of a trading halt to announce that it achieved a 92% sensitivity for its smartphone-based COVID-19 detection that uses a new cough audio-based algorithm.

Read more on that update here.

Another medical company, cancer research company Noxopharm (ASX:NOX) also rose strongly after announcing that the US FDA had granted an Orphan Drug Designation to its Veyonda drug for use in treatment of soft tissue sarcoma (a type of cancer).

In small cap resources, RiversGold (ASX:RGL) was the best performer after a field visit confirmed confirmed multiple lithium-bearing pegmatite dykes within the company’s Tambourah project in WA.
 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for March 22 [intraday]:

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