• The ASX200 closed 0.08% lower at 7447.10 points on Monday.
• Careteq plunged 20% on its ASX debut following IPO raising $6m.
• DroneShield rallied 3% after announcing record performance in 2021.

The Australian market recovered some losses in afternoon trade to close the first trading session of the week down just 0.08% at 7447.10 as a rally in metals and mining stocks balanced losses among consumer discretionary stocks. The All Ords also closed Monday’s session 0.11% lower at 7766.10 points.

The tech sector also recovered some ground on Monday afternoon as NOVONIX surged 11% and Megaport rallied 3%, while Wisetech Global, Xero, Afterpay and Codan fell more than 2% respectively.

Bitcoin is trading 0.72% higher over the last 24-hours at US$42,169.41 at 4:30pm AEDT.

Assisted-living technology innovator Careteq plunged 20% on its ASX debut today amid a broad tech sell-off. The healthtech startup completed an IPO at $0.20/share raising $6m and plans to use some of the funds raised at IPO towards the company’s international expansion strategy.

Making headlines, AI security systems developer DroneShield jumped 3% today after announcing record performance for 2021. For the period, DroneShield reported revenues almost doubling to $10.5m, customer and grant cash receipts tripled to $14.8m and a cash balance of $9.5m with no debt.

And Disneyland could be heading for the Metaverse after the company received approval for a ‘virtual-world simulator’ patent using technology to project 3D images on real-world objects to create interactive guest experiences throughout the theme parks without the need for wearable technology.