Mid-Market: S&P/ASX 200 Sharply Lower By 0.91%; All 11 Sectors Are Trading In Red Zone

On 16 January 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 67.90 points or 0.91%, and is currently trading at 7,428.20 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Consumer Staples and Materials sectors are the top 2 declining sectors, declining 1.17% and 1.03% in their index values.

Charter Hall Group (ASX: CHC) and Neuren Pharmaceuticals Limited (ASX: NEU) are the top-gaining stocks, gaining 2.844% and 1.272% in their stock prices. On the other hand, Super Retail Group Limited (ASX: SUL) and Lovisa Holding Limited (ASX: LOV) are the top-losing stocks and are declining by 5.027% and 4.965% in their stock prices.

Factors influencing the market-

• Australian shares are declining today, tracking weakness in Europe after official reports confirmed German’s economic malaise. 
• Core Lithium Limited’ shares are falling after analysts at Goldman Sachs cut the price target for the embattled battery metals play to 15¢. Shares are down more than 80% in the last 12 months.
• Super Retail Group is down by more than 5% after jumping by a similar margin yesterday following a stronger-than-expected trading update.
• Coast Entertainment is declining today following the company is assessing the impact of a spate of wild weather hitting Australia’s north-east coast on the company’s amusement parks.
• Oil edged lower as fresh instability in the Red Sea and a US cold snap that’s disrupting output was countered by a softer tone in wider markets.
• The US markets were closed in the previous session due to Martin Luther King Jr. Day.
• Hang Seng is down by 0.17%, and FTSE 100 is down by 0.39%.

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