Mid-Market: S&P/ASX 200 Trading Flat; 10 Out Of 11 Sectors Are Trading In Red Zone

On 26 July 2023, at AEST 11:05 AM, the benchmark index S&P/ASX 200 is trading flat today, and is currently trading at 7,340.80 levels. Out of 11 sectors, 10 sectors are trading lower and 1 sector is trading in the green zone.

The Materials sector is the only gaining sector, gaining 1.11% in its index value. On the other hand, the Utilities and A-REIT sectors are the top 2 losing sectors, declining 0.79% and 0.60% in their index values.

Champion Iron Limited (ASX: CIA) and Beach Energy Limited (ASX: BPT) are the top-gaining stocks, gaining 5.227% and 3.770% in their stock prices. On the other hand, Qantas Airways Limited (ASX: QAN) and Lake Resources N.L. (ASX: LKE) are the top-losing stocks and are declining by 2.888% and 2.128% in their stock prices.

Factors influencing the market-

• Corporate Travel Management’s share price is declining following it updated its earnings guidance for FY23.
• US shipbuilder Austal Limited is also declining today after it announced that its towing, salvage, and rescue ship program have resulted in it slashing earnings guidance for FY23 from a profit of around $58 million to a loss of up to $10 million.
• Gold prices kept to a tight range before the FED meeting later in the day, while copper prices pulled back slightly after vows of more Chinese stimulus sparked substantial gains.
• Dow has closed up by 0.08%, S&P 500 up by 0.28%, and NASDAQ ended higher by 0.61%.
• Hang Seng is up by 4.10%, and FTSE 100 is up by 0.17%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com