Mid-Market: S&P/ASX 200 Trading Higher By 0.44%; Buoyed By Consumer Discretionary And Tech Stocks

On 11 January 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 32.90 points or 0.44%, and is currently trading at 7,501.40 levels. Out of 11 sectors, 7 sectors are trading higher along with the S&P/ASX 200.

The Consumer Discretionary and Information Technology sectors are the top 2 gaining sectors, gaining 1.22% and 0.91% in their index values. On the other hand, Energy and Industrials sectors are the top 2 declining sectors, declining 0.61% and 0.47% in their index values.

Weebit Nano Ltd (ASX: WBT) and Telix Pharmaceuticals Limited (ASX: TLX) are the top-gaining stocks, gaining 3.424% and 3.169% in their stock prices. On the other hand, Worley Limited (ASX: WOR) and Arcadium Lithium Ltd (ASX: LTM) are the top-losing stocks and are declining by 5.082% and 3.233% in their stock prices.

Factors influencing the market-

• Australian shares are rising, with tech leading gains after a positive session in New York where several of the mega cap tech stocks continued to press higher, amid the much-awaited news that the US regulator had finally given the nod to bitcoin exchange-traded funds.
• Coles Group’s shares are marginally lower after the federal government on Wednesday announced that former competition minister Craig Emerson would lead a review of the grocery industry’s voluntary code of conduct with suppliers.
• Regulators in the United States have approved the launch of spot bitcoin exchange-traded funds, allowing retail investors to more easily access the controversial crypto currency via traditional share markets.
• Oil prices declined nearly a dollar a barrel on Wednesday following a surprise jump in US crude stockpiles raised concerns about demand in the largest oil market.
• The Dow has closed up by 0.45%, the S&P 500 up by 0.57%, and the NASDAQ ended higher by 0.75%.
• Hang Seng is down by 0.57%, and FTSE 100 is down by 0.42%

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