Mid-Market: S&P/ASX 200 Rallying Today By More Than 1%; All 11 Sectors Are In Green

On 05 June 2023, at AEST 10:55 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 79.60 points or 1.11%, and is currently trading at 7,224.70 levels. All 11 sectors are trading higher along with the S&P/ASX 200. The Materials and Utilities sectors are the top 2 gaining sectors, gaining 1.37% and 0.48% in their index values.

NRW Holdings Limited (ASX: NWH) and Elders Limited (ASX: ELD) are the top-gaining stocks, gaining 8.219% and 5.329% in their stock prices. On the other hand, Capricorn Metals Limited (ASX: CMM) and Newcrest Mining Limited (ASX: NCM) are the top-losing stocks and are declining by 5.334% and 3.055% in their stock prices.

Factors influencing the market-

• Elders Limited’s shares are rising after an update that its chief executive Mark Allison will continue in his role.
• Energy stocks are rallying today on higher oil prices following Saudi Arabia said it would make an extra 1 million barrel-a-day supply cut next month.
• Oil prices increased after Saudi Arabia announced that it would make an extra 1 million barrel-a-day supply cut next month, taking its production to the lowest level for several years after a price slide.
• Dow has closed up by 2.12%, S&P 500 up by 1.45%, and NASDAQ ended higher by 1.07%.
• Hang Seng is down by 0.10%, and FTSE 100 is up by 0.59%.

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