Mid-Market: S&P/ASX 200 Trading Higher; Buoyed By Consumer Staples Sector

On 23 October 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 15.40 points or 0.19%, and is currently trading at 8,221.10 levels. Out of 11, 7 sectors are trading higher along with the gain in the S&P/ASX 200.

The Consumer Staples and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 1.12% and 0.97% in their index values. On the other hand, Information Technology and Financials sectors are the top 2 declining sectors, declining 0.56% and 0.18% in their index values.

Stanmore Resources Limited (ASX: SMR) and Beach Energy Limited (ASX: BPT) are the top-gaining stocks, gaining 3.986% and 3.529% in their stock prices. On the other hand, Codan Limited (ASX: CDA) and Deep Yellow Limited (ASX: DYL) are the top-losing stocks and are declining by 4.222% and 3.886% in their stock prices.

Factors influencing the market-

• WiseTech Limited’s shares are trading lower following a 15% sell-off in the last five sessions. This move comes as further details emerge that founder Richard White had a lengthy relationship with an employee and gave her a luxury waterfront mansion worth $7 million.
• Gold steadied near a record high, as it receives sustained haven demand while investors monitor the approaching US election and conflict in the Middle East.
• Oil prices settled higher for the second consecutive session on Tuesday, as traders downplayed hopes of a Middle East ceasefire and focused on signs of improving demand from China, which could tighten market balances in the months ahead.
• The Dow has closed down by 0.02%, the S&P 500 closed down by 0.05%, and the NASDAQ ended higher by 0.17%.
• Hang Seng is up by 0.10%, and FTSE 100 is down by 0.14%.

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