Mid-Market: S&P/ASX 200 Sharply Lower By 0.82%; More Sectors Are In The Red Zone

On 28 July 2023, at AEST 11:10 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 61.40 points or 0.82%, and is currently trading at 7,394.80 levels. Out of 11 sectors, 10 sectors are trading lower along with the S&P/ASX 200.

The Consumer Staples and Energy sectors are the top 2 gaining sectors, gaining 0.14% and 0.10% in their index values. On the other hand, the A-REIT and Materials sectors are the top 2 losing sectors, declining 1.47% and 0.99% in their index values.

Pro Medicus Limited (ASX: PME) and Megaport Limited (ASX: MP1) are the top-gaining stocks, gaining 2.502% and 2.165% in their stock prices. On the other hand, Capricorn Metals Limited (ASX: CMM) and Regis Resources Limited (ASX: RRL) are the top-losing stocks and are declining by 9.337% and 6.971% in their stock prices.

Factors influencing the market-

• Australian shares are sharply lower as an upward revision in the US economy’s second-quarter performance has triggered a sharp rise in US Treasury yields and rekindled debate over future rate increases.
• Capricorn Metals crashed by 10.8% to $4.30 following its quarterly report.
• Estia Health fell on news that it is continuing to engage in “constructive discussions” with Bain Capital to progress a potential transaction.
• West Texas Intermediate oil futures rose above $US80 a barrel for the first time since April as OPEC+ curbs tighten global supplies and traders bet Federal Reserve interest rates may have peaked.
• Dow has closed down by 0.67%, S&P 500 down by 0.64%, and NASDAQ ended lower by 0.55%.
• Hang Seng is up by 1.41%, and FTSE 100 is up by 0.21%.

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