Mid-Market: S&P/ASX 200 Trading Flat; Ahead Of RBA Decision

On 19 March 2024, at AEDT 11:40 AM, the benchmark index S&P/ASX 200 is trading flat today, and is currently trading at 7,675.70 levels. Out of 11 sectors, 4 sectors are trading higher and 7 sectors are trading lower today.

The Utilities and A-REIT sectors are the top 2 gaining sectors, gaining 1.05% and 0.75% in their index values. On the other hand, Information Technology and Industrials sectors are the top 2 declining sectors, declining 0.67% and 0.60% in their index values.

Nickel Industrials Limited (ASX: NIC) and Bellevue Gold Limited (ASX: BGL) are the top-gaining stocks, gaining 5.067% and 3.790% in their stock prices. On the other hand, Liontown Resources Limited (ASX: LTR) and Reliance Worldwide Corporation Limited (ASX: RWC) are the top-losing stocks and are declining by 2.907% and 2.691% in their stock prices.

Factors influencing the market-

• Australian shares are trading flat as the market awaits the outcome of the Reserve Bank’s board meeting due later this afternoon and Governor Michele Bullock’s press conference.
• Aussie Broadband’s shares are declining today after it filed an “urgent” request in the Federal Court for permanent and interlocutory injunctions to set aside Superloop’s notice. It’s an attempt to stop Superloop forcing it to lower its near 20% stake in another twist to the battle between the two companies for market share.
• Oil prices climbed to a four-month high as Ukrainian drone attacks on Russian refineries that heightened geopolitical risks and key Chinese economic data beat estimates..
• The Dow has closed up by 0.20%, the S&P 500 up by 0.63%, and the NASDAQ ended higher by 0.82%.
• Hang Seng is up by 0.10%, and FTSE 100 is down by 0.06%.

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