Mid-Market: S&P/ASX 200 Trading Higher By 0.32%; Buoyed By A-REIT Sector

On 31 October 2023, at AEST 12:00 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 21.60 points or 0.32%, and is currently trading at 6,794.50 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200.

The A-REIT and Consumer Staples sectors are the top 2 gaining sectors, gaining 1.16% and 0.90% in their index values. On the other hand, the Materials and Utilities sectors are the top 2 losing sectors, declining 0.31% and 0.29% in their index values.

Inghams Group Limited (ASX: ING) and De Grey Mining Limited (ASX: DEG) are the top-gaining stocks, gaining 4.398% and 2.953% in their stock prices. On the other hand, Sayona Mining Limited (ASX: SYA) and Block Inc. (ASX: SQ2) are the top-losing stocks and are declining by 4.939% and 3.285% in their stock prices.

Factors influencing the market-

• The Australian share market rises today, tracking gains overnight on Wall Street bolstered by a rebound in blue-chip tech stocks.
• Inghams Group Limited’s shares surged and are the best-performing stock on the ASX 200 after the company expects $247 million in statutory earnings before interest, tax, and amortization in the 1HFY24.
• Liontown Resources gained today following a trading update that said its Kathleen Valley project was more than 50% complete.
• Origin Energy’s shares are marginally lower after AustralianSuper rejected Brookfield and EIG’s bid for Origin.
• Oil prices rose today ahead of global central bank meetings and as tensions in the Middle East remained high.
• The Dow has closed up by 1.58%, the S&P 500 up by 1.20%, and the NASDAQ ended higher by 1.16%.
• Hang Seng is up by 0.04%, and FTSE 100 is up by 0.50%.

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