Mid-Market: S&P/ASX 200 Trading Higher By 0.61%; NUF Rallied By More Than 12%

On 18 May 2023, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 43.62 points or 0.61%, and is currently trading at 7,242.80 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200.

The Information Technology and Materials sectors are the top 2 gaining sectors, gaining 2.28% and 1.29% in their index values. On the other hand, the Consumer Discretionary and Consumer Staples sectors were the top 2 losing sectors, declining 0.23% and 0.13% in their index values.

Nufarm Limited (ASX: NUF) and Xero Limited (ASX: XRO) are the top-gaining stocks, gaining 12.641% and 5.472% in their stock prices. On the other hand, Beach Energy Limited (ASX: BPT) and Aristocrat Leisure Limited (ASX: ALL) are the top-losing stocks and are declining by 7.093% and 2.625% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is trading higher as hopes raised of an end to the US debt ceiling impasse, and markets rose almost in unison.
• Nufarm Limited’s shares rallied 10% after it reported a 7% increase in its half-year underlying net profit after tax.
• Beach Energy Limited’s shares are trading lower after it said uncertainty about the timing and capital expenditure at the Waitsia project.
• Xero Limited is also gaining following the company has announced a 28% increase in its revenue to NZ$1.4 billion in FY23.
• Oil prices are lower today, easing on worries over plentiful supply after surging nearly 3% during the previous session.
• Dow has closed up by 1.24%, S&P 500 up by 1.19%, and NASDAQ ended higher by 1.28%.
• Hang Seng is down by 2.09%, and FTSE 100 is down by 0.36%.

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