Mid-Market: S&P/ASX 200 Trading Higher By 0.28%; Lifted By Energy And Materials Sectors

On 20 June 2023, at AEST 11:10 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 20.60 points or 0.28%, and is currently trading at 7,315.50 levels. Out of 11 sectors, 10 sectors are trading higher along with the S&P/ASX 200.

The Energy and Materials sectors are the top 2 gaining sectors, gaining 0.76% and 0.65% in their index values. On the other hand, the Industrials sector is the only losing sector, declining 0.16% in its index value.

The Star Entertainment Group Limited (ASX: SGR) and Pilbara minerals Limited (ASX: PLS) are the top-gaining stocks, gaining 4.090% and 1.869% in their stock prices. On the other hand, Lake Resources N.L. (ASX: LKE) and Premier Investments Limited (ASX: PMV) are the top-losing stocks and are declining by 19.737% and 5.019% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is trading lifted by miners and energy on expectations that China will announce stimulus to support a shaky economic recovery.
• Woodside Energy Limited’s shares are rising after giving the nod to a massive US$7.2 billion (AU$10.5 billion) oil project off Mexico’s northeast coast.
• Gold prices moved little today as markets awaited more signals on U.S. monetary policy this week, while copper prices steadied near one-month highs before an interest rate cut in major importer China.
• Hang Seng is flat, and FTSE 100 is down by 0.71%.

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