The ASX is trading slightly down by 0.32 per cent at lunch break, after opening 0.5 per cent higher on Friday’s record Wall Street highs.

The sectors’ performances were mixed, with Energy Index leading the way, rising by almost 1 per cent as oil prices rose 4 per cent. The IT sector was the worst performing, dropping by almost 2 per cent, with Afterpay (APT) being the biggest loser, dropping 3 per cent.

Movements in oil price of late have been tied to the development of the container ship Ever Given saga in the Suez. Dredgers are still trying to dislodge the ship as we speak.

In a viral video footage taken by Daily News Egypt, hundreds of vessels can be seen stranded in the Mediterranean, waiting to pass through the narrow canal.

The canal is responsible for 12 per cent of global trade, and experts have estimated the total value of goods stranded at sea at around US$10 billion.

The market is also still scratching heads over a selling spree on Wall Street last Friday that wiped $35 billion from the market. Shares in Chinese tech companies Baidu and Tencent, and US media companies were sold off.

The market is speculating that the selloff is due to forced liquidation of positions due to margin calls. Some of the positions were attributed to Archegos Capital Management, a family office run by hedge fund manager Bill Hwang.

Reports said that Hwang was forced out of his positions after facing margin calls on his $80 billion leveraged positions.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday March 29:

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Code Name Price % Change Volume
G88 Golden Mile Res Ltd 0.097 87 52503602
MOC Mortgage Choice Ltd 1.9 62 4093914
ANL Amani Gold Ltd 0.0015 50 22612180
CLZ Classic Min Ltd 0.0015 50 4132505
SAN Sagalio Energy Ltd 0.044 33 384848
NMR Native Mineral Res 0.35 30 725384
BXN Bioxyne Ltd 0.015 25 3143597
MLS Metals Australia 0.0025 25 5429000
NPM Newpeak Metals 0.0025 25 2366666
UUV UUV Aquabotix Ltd 0.0025 25 2600001
ZIM Zimplats Holding Ltd 27.5 23 8989
ASO Aston Minerals Ltd 0.14 22 9335395
WWI West Wits Mining Ltd 0.115 21 25468472
AER Aeeris Ltd 0.145 21 72000
AOA Ausmon Resorces 0.012 20 5668782
BRU Buru Energy 0.185 19 2542980
ANX Anax Metals Ltd 0.077 18 7948077
MRD Mount Ridley Mines 0.0035 17 844441
CBE Cobre 0.22 16 6000
ENX Enegex Limited 0.082 15 2953738
POD Podium Minerals 0.23 15 659332
DCX Discovex Res Ltd 0.008 14 125000

Mortgage Choice (ASX:MOC) skyrocketed by more than 60 per cent, after announcing that it is the subject of a 100 per cent take over at $1.95 a share, by property listing giant REA Group (ASX:REA), who is the operator of leading property website, realestate.com.au.

But the session belonged to Golden Mile Resources (ASX:G88), whose share price almost doubled this morning. Its team believes there is a significant gold system at the ‘Benalla’ project in WA, which has been bolstered by some thick, high grade hits in early drilling.

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday March 29:

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

Code Name Price % Change Volume
ZEU Zeus Resources Ltd 0.027 -27 560948
ECT Env Clean Tech Ltd. 0.0015 -25 40290783
AQX Alice Queen Ltd 0.019 -24 19312039
RCR Rincon 0.2 -20 548000
VIC Victory Mines Ltd 0.002 -20 1114664
RBR RBR Group Ltd 0.009 -18 22041574
MPA Mad Paws 0.205 -15 4010714
BSM Bass Metals Ltd 0.0095 -14 28321054
ARO Astro Resources NL 0.0035 -13 1800000
FGO Fargo Enterprises 0.007 -13 3622222
ROG Red Sky Energy. 0.0035 -13 13987662
TPS Threat Protect Ltd 0.035 -13 16000
CII CI Resources Limited 0.8 -11 820
ARL Ardea Resources Ltd 0.475 -10 385927
TON Triton Min Ltd 0.044 -10 2212918
IMM Immutep Ltd 0.415 -10 1853104
MRQ Mrg Metals Limited 0.01 -9 1295500
SBR Sabre Resources 0.055 -8 6321754
VBC Verbrec Limited 0.185 -8 37413
BNO Bionomics Limited 0.22 -7 578825
BAT Battery Minerals Ltd 0.025 -7 2922444