Mid-Market: S&P/ASX 200 Trading Lower; Mirroring US Market Losses

On 15 March 2024, at AEDT 11:40 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 110.80 points or 1.44%, and is currently trading at 7,602.80 levels. Out of 11 sectors, 10 sectors are trading lower along with the decline in the S&P/ASX 200.

The Energy sector is the only gaining sector, gaining 0.35% in its index value. On the other hand, Materials and Consumer Discretionary sectors are the top 2 declining sectors, declining 2.42% and 2.13% in their index values.

Data#3 Limited (ASX: DTL) and Karoon Energy Limited (ASX: KAR) are the top-gaining stocks, gaining 2.870% and 2.387% in their stock prices. On the other hand, Liontown Resources Limited (ASX: LTR) and Arcadium Lithium Limited (ASX: LTM) are the top-losing stocks and are declining by 7.326% and 7.211% in their stock prices.

Factors influencing the market-

• Australian shares dropped 1.47% in early trade, tracking losses in New York, where US inflation data strengthened a view that the Federal Reserve should not pivot to rate cuts too fast.
• Tabcorp Holdings Limited’s shares are declining after its chief executive Adam Rytenskild quit the business on allegations he used inappropriate and offensive language.
• Energy sector is only trading in green zone following oil rose to its highest closing price in 2024 as the International Energy Agency warned of a supply deficit throughout the year.
• The Dow has closed down by 0.35%, the S&P 500 down by 0.29%, and the NASDAQ ended lower by 0.30%.
• Hang Seng is down by 0.71%, and FTSE 100 is down by 0.37%.

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