Mid-Market: S&P/ASX 200 Trading Higher By 0.35%; Buoyed By IT And Healthcare

On 31 July 2023, at AEST 11:10 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 25.80 points or 0.35%, and is currently trading at 7,429.80 levels. Out of 11 sectors, 8 sectors are trading higher along with the S&P/ASX 200.

The Information Technology and Healthcare sectors are the top 2 gaining sectors, gaining 0.99% and 0.39% in their index values. On the other hand, the Utilities and Consumer Staples sectors are the top 2 losing sectors, declining 0.09% and 0.06% in their index values.

Lynas Rare Earths Limited (ASX: LYC) and Lovisa Holdings Limited (ASX: LOV) are the top-gaining stocks, gaining 4.344% and 3.664% in their stock prices. On the other hand, Silver Lake Resources Limited (ASX: SLR) and Allkem Limited (ASX: AKE) are the top-losing stocks and are declining by 20.180% and 2.829% in their stock prices.

Factors influencing the market-

• Silver Lake Resource’s shares crashed by more than 20% following its quarterly report.
• IGO declined 2% despite announcing record quarterly earnings and underlying free cash flow in the June quarter.
• Lynas Rare Earths gained today after recording its highest ever quarterly production of neodymium and praseodymium (NdPr) in the June quarter.
• Dow has closed up by 0.50%, S&P 500 up by 0.99%, and NASDAQ ended higher by 1.90%.
• Hang Seng is up by 1.41%, and FTSE 100 is up by 0.02%.

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