Mid-Market: S&P/ASX 200 Is Declining By 0.58%; All 11 Sectors Are In Red

On 02 August 2023, at AEST 11:05 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 43.30 points or 0.58%, and is currently trading at 7,407.20 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Utilities and A-REIT sectors are the top 2 losing sectors, declining 1.75% and 1.64% in their index values.

Sayona Mining Limited (ASX: SYA) and Reliance Worldwide Corporation Limited (ASX: RWC) are the top-gaining stocks, gaining 3.225% and 2.618% in their stock prices. On the other hand, Abacus Storage King (ASX: ASK) and AGL Energy Limited (ASX: AGL) are the top-losing stocks and are declining by 4.256% and 4.154% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is declining today, mirroring Wall Street amid concerns about earnings misses.
• Insurance group PSC rallied following it reported that it now expects to deliver $111 million in earnings in FY23. The group previously upgraded its full-year earnings guidance from $101 to $105 million to $104 to $108 million in February.
• Utility stocks recorded sharp losses, down 1.6%. AGL Energy declined 3.8% after broker Macquarie downgraded the stock to a “neutral” rating from “outperform.
• Dow has closed up by 0.20%, S&P 500 down by 0.27%, and NASDAQ ended lower by 0.43%.
• Hang Seng is down by 0.34%, and FTSE 100 is down by 0.43%.

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