Mid-Market: S&P/ASX 200 Sharply Lower By 1.07%; Core Lithium Crashed By More Than 25%

On 17 August 2023, at AEST 11:25 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 76.90 points or 1.07%, and is currently trading at 7,118.30 levels. Out of 11 sectors, 10 sectors are trading lower along with the S&P/ASX 200.

The Utility sector is the only gaining sectors, gaining 0.30% in its index value. On the other hand, the Telecommunication Services and Information Technology sectors are the top 2 losing sectors, declining 2.27% and 1.52% in their index values.

Ingham Group Limited (ASX: ING) and Iph Limited (ASX: IPH) are the top-gaining stocks, gaining 16.187% and 12.431% in their stock prices. On the other hand, Core Lithium Ltd (ASX: CXO) and Sayona Mining Limited (ASX: SYA) are the top-losing stocks and are declining by 25.230% and 10.000% in their stock prices.

Factors influencing the market-

• Ingham Group Limited’s share price surges after reporting a 72% jump in full-year net profit.
• Evolution Mining is trading lower today after the gold miner reported its full-year profit collapsed 49% to $163.5 million due to severe floods at its Ernest Henry project in northern Queensland.
• Core Lithium crashed by more than 25% today, after a $100 million share placement reported by Street Talk yesterday.
• Amcor Limited’s shares are down following the world’s largest consumer packaging group suffering an 11% drop in net profit after tax to US$1 billion for the 12 months that ended June 30.
• Oil prices fell to a two-week low in Asian trade today, extending recent losses as markets fretted over an economic slowdown in China. At the same time, strength in the dollar also weighed amid continued signs of a hawkish Federal Reserve.
• Dow has closed down by 0.52%, S&P 500 down by 0.76%, and NASDAQ ended lower by 1.15%.
• Hang Seng is down by 1.36%, and FTSE 100 is down by 0.44%.

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