The Triple-I Index welcomed the new financial year with a 9.2 point rise at the beginning of the day as GST worries sidestepped the stockmarket.
Entrants that were performing well in early morning trade included emitch (EMI), BMC Media (BMC) and Securenet (SNX).
Emitch took a 17.5 percent jump to trade at 74 cents in morning trade. With this head start under its belt, the bulk media provider didn't look back and kept gaining ground all day. It struck a day's high of 80 cents -- a figure it hasn't seen since late April. It ended the day 23.8 percent higher at 78 cents.
Online advertising company BMC Media (BMC) took a 10.1 percent rise to be valued at 75 cents in morning trade. It reached a day's high of 84 cents and ended 19 percent up to trade at 81 cents.
Things were also looking good for encryption technology company Securenet (SNX) -- up 8.5 percent to a straight AU$10 before the stockmarket took a break for lunch. At the close of trade Securenet was up a further 25 cents to trade at AU$10.25.
By midday, other Triple-I contenders were following these early morning leads and the pace picked up further in afternoon trade.
Network security company Esec (ESX) leapt forward 13.2 percent to trade at 43 cents and dropped back to 42 cents in afternoon trade.
Internet technology developer MultiEmedia.com (MUL) was trading the second largest volumes on the ASX by midday and surged 16 percent to trade at 33 cents. By day's end it fell back to 32 cents.
Junior telco Davnet (DVT) appeared out of nowhere, nearly catching MulitEmedia up in terms of volume. Davnet took a 13.5 percent hike to AU$1.43.
Hutchison Telecommunications (HTA) announced it has commenced sales of its Orange One service through 120 dealers in Sydney and Melbourne. However, the telco dropped 1.2 percent to 82 cents.
Online wine merchant Wineplanet also took afternoon trade by storm -- up 24 percent to trade at 52 cents.
The first day of the financial year and the stockmarket scales of justice were already panning MYOB (MYO). The financial software provider dropped 2.2 percent to a market value of AU$4.98.
At the end of the day, the Triple-I Index was up substantially by 16.9 points to 704.7.
