The shares you should buy now with the Australian share market on verge of a record high

The shares you should buy now with the Australian share market on verge of a record high

The Australian share market is on the verge of hitting a record high just a year after the Covid lockdowns. The benchmark S&P/ASX200 briefly touched the 7,000 mark on Thursday - the highest since February 2020 before the World Health Organisation declared a Covid pandemic. The level is still below the record high of 7,197 was reached on February 20 last year just before a 33 per cent plunge occurred in just one month. But with the economy rebounding strongly from the coronavirus recession, the Australian Securities Exchange has surged 49 per cent during the past year and is set join the American stock market in also touching record highs. CMC Markets chief market strategist Michael McCarthy said the local share market was likely to reach an all-time high in May, being just 3 per cent below the peak. 'It could happen reasonably sharply as long as momentum remains,' he told Daily Mail Australia. 'I suspect though, we'll have a few fits and starts along the way and it's more likely to happen in May. 'We have very clear positive …
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