Mid-Market: S&P/ASX 200 Trading Higher; Inflation In February Rose 3.4% Below Consensus

On 27 March 2024, at AEDT 11:40 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 11.30 points or 0.15%, and is currently trading at 7,791.50 levels. Out of 11 sectors, 6 sectors are trading higher along with the gain in the S&P/ASX 200.

The Healthcare and Consumer Staples sectors are the top 2 gaining sectors, gaining 0.98% and 0.74% in their index values. On the other hand, Materials and Information Technology sectors are the top 2 declining sectors, declining 0.35% and 0.28% in their index values.

Johns Lyng Group Limited (ASX: JLG) and Polynovo Limited (ASX: PNV) are the top-gaining stocks, gaining 3.897% and 3.571% in their stock prices. On the other hand, Waypoint REIT (ASX: WPR) and Incitec Pivot Limited (ASX: IPL) are the top-losing stocks and are declining by 2.746% and 2.569% in their stock prices.

Factors influencing the market-

• The benchmark S&P/ASX 200 Index is trading higher, after the monthly headline consumer price index indicator was steady at 3.4% in annual terms in February, unchanged from the previous month, undershooting consensus forecast of 3.5%.
• Platinum Asset Management Limited’s shares plunged more than 20% after news last night that the investment firm had lost $1.4 billion in mandated funds from an undisclosed client.
• Oil extended a modest decline after an industry report pointed to a sizable build in US inventories, and wider markets had a weaker tone ahead of the end of the quarter.
• The Dow has closed down by 0.08%, the S&P 500 down by 0.28%, and the NASDAQ ended lower by 0.42%.
• Hang Seng is up by 0.88%, and FTSE 100 is up by 0.17%.

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