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

On 05 September 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 35.30 points or 0.44%, and is currently trading at 7,985.80 levels. Out of 11, 6 sectors are trading higher along with the gain in the S&P/ASX 200.

The A-REIT and Information Technology sectors are the top 2 gaining sectors, gaining 1.70% and 1.59% in their index values. On the other hand, Energy and Utilities sectors are the top 2 declining sectors, declining 3.00% and 1.47% in their index values.

NextDC Limited (ASX: NXT) and Charter Hall Group (ASX: CHC) are the top-gaining stocks, gaining 11.947% and 5.517% in their stock prices. On the other hand, Coronado Global Resources Inc. (ASX: CRN) and Challenger Limited (ASX: CGF) are the top-losing stocks and are declining by 15.069% and 11.143% in their stock prices.

Factors influencing the market-

• TPG Telecom Limited’s shares are rising following it has received a green light from the competition watchdog to proceed with their regional network-sharing deal.
• Challenger Limited’s shares are sharply falling after US-listed private capital firm Apollo Global Management offloaded a 10% stake in the annuities and fund manager.
• Oil prices fell to the lowest in more than a year as persistent concerns about weakening demand overshadowed the potential for OPEC+ to delay supply increases.
• The Dow has closed up by 0.09%, the S&P 500 closed down by 0.16%, and the NASDAQ ended lower by 0.30%.
• Hang Seng is down by 1.10%, and FTSE 100 is down by 0.35%.

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