Mid-Market: S&P/ASX 200 Trading Higher By 0.40%; Gained By Materials Stocks

On 29 August 2023, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 28.40 points or 0.40%, and is currently trading at 7,188.40 levels. Out of 11 sectors, 6 sectors are trading higher along with the S&P/ASX 200.

The Materials and Utilities sectors are the top 2 gaining sectors, gaining 0.79% and 0.47% in their index values. On the other hand, the Healthcare and Information Technology sectors are the top 2 losing sectors, declining 0.75% and 0.68% in their index values.

Mineral Resources Limited (ASX: MIN) and Nickel Industries Limited (ASX: NIC) are the top-gaining stocks, gaining 5.494% and 4.755% in their stock prices. On the other hand, Fisher & Paykel Healthcare Corporation Limited (ASX: FPH) and Imugene Limited (ASX: IMU) are the top-losing stocks and are declining by 4.478% and 3.845% in their stock prices.

Factors influencing the market-

• Australian shares have mainly opened higher, taking an overnight lead from New York, focusing on an upcoming speech by incoming Reserve Bank of Australia governor Michele Bullock later today.
• Zip Co Ltd’s shares are gaining today following reporting record transaction volumes and revenue for the year to June as consumers continue to use buy now, pay later even as spending across the economy softens.
• Star Entertainment rises today despite the casino operator posting a $2.4 billion full-year loss and wiping more than $2 billion in value from its Sydney, Gold Coast, and Brisbane casinos.
• Mineral Resources Limited’s share price is amongst the top gaining stocks after posting a 40% jump in revenue to $4.8 billion in its latest full-year report.
• Dow has closed up by 0.62%, the S&P 500 up by 0.63%, and NASDAQ ended higher by 0.84%.
• Hang Seng is up by 0.97%, and FTSE 100 is up by 0.07%.

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