Mid-Market: S&P/ASX 200 Trading Higher; Buoyed By Mining Stocks

On 30 September 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 41.50 points or 0.51%, and is currently trading at 8,253.00 levels. Out of 11, 7 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Industrials sectors are the top 2 gaining sectors, gaining 1.08% and 0.24% in their index values. On the other hand, Information Technology and Utilities sectors are the top 2 declining sectors, declining 0.06% and 0.03% in their index values.

The Star Entertainment Group Limited (ASX: SGR) and Mineral Resources Limited (ASX: MIN) are the top-gaining stocks, gaining 10.000% and 5.474% in their stock prices. On the other hand, Westgold Resources Limited (ASX: WGX) and Newmont Corporation (ASX: NEM) are the top-losing stocks and are declining by 3.861% and 2.597% in their stock prices.

Factors influencing the market-

• Australian  share market reclaimed its record high, buoyed by miners after Iron ore futures rose more than 7% in early trading in Singapore, extending last week’s gains after China pumped much-needed stimulus into its sputtering economy.
• Liontown Resources Limited’s shares are rising following it has completed its first shipment of spodumene concentrate and started spot sales from its Kathleen Valley project in Western Australia.
• The Dow has closed up by 0.33%, the S&P 500 closed down by 0.13%, and the NASDAQ ended lower by 0.39%.
• Hang Seng is up by 4.16%, and FTSE 100 is up by 0.20%.

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