Mid-Market: S&P/ASX 200 Trading Higher By 0.30%; Inflation Slows Down In Q4 to 0.6%

On 31 January 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 23.10 points or 0.30%, and is currently trading at 7,623.20 levels. Out of 11 sectors, 8 sectors are trading lower despite the gain in the S&P/ASX 200.

The Utilities and Energy sectors are the top 2 gaining sectors, gaining 0.73% and 0.67% in their index values. On the other hand, Materials and Telecommunication Services sectors are the top 2 declining sectors, declining 0.58% and 0.44% in their index values.

Nickel Industries Limited (ASX: NIC) and Sandfire Resources Limited (ASX: SFR) are the top-gaining stocks, gaining 6.896% and 4.353% in their stock prices. On the other hand, Sayona Mining Limited (ASX: SYA) and Weebit Nano Ltd (ASX: WBT) are the top-losing stocks and are declining by 9.524% and 8.809% in their stock prices.

Factors influencing the market-

• The Australian share market rebounded after opened moderately lower, after the CPI index slowed to 0.6% in the three months through December from a 1.2% in the September quarter, according to the Australian Bureau of Statistics.
• Credit Corp Group Limited’s shares are declining the company said that it was on track to come in at the bottom end of its profit guidance, after posting a net loss in its most recent half-year.
• Liontown Resources Limited is dropping today following it announced that it remains in talks with the lending syndicate that withdrew a $760 million loan facility which was proposed to help bring the developer’s WA lithium project to fruition.
• Oil prices rises as a higher global economic growth forecast and escalating tensions in the Middle East offset concerns around Chinese demand.
• The Dow has closed up by 0.35%, the S&P 500 down by 0.06%, and the NASDAQ ended lower by 0.76%.
• Hang Seng is down by 2.32%, and FTSE 100 is up by 0.44%

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