Mid-Market: S&P/ASX 200 Trading Lower; All 11 Sectors Are In Red Zone

On 11 March 2024, at AEDT 11:40 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 103.80 points or 1.32%, and is currently trading at 7,743.20 levels. All 11 sectors are trading lower along with the decline in the S&P/ASX 200. The Healthcare and Materials sectors are the top 2 declining sectors, declining 1.03% and 0.33% in their index values.

Block Inc. (ASX: SQ2) and Core Lithium Ltd (ASX: CXO) are the top-gaining stocks, gaining 4.511% and 2.381% in their stock prices. On the other hand, Strike Energy Limited (ASX: STX) and Arcadium Lithium Limited (ASX: LTM) are the top-losing stocks and are declining by 5.556% and 4.205% in their stock prices.

Factors influencing the market-

• The Australian share market dropped more than 1% at the open following a pause for the bull market on Wall Street on Friday.
• Energy stocks declined as crude oil held a loss ahead reports from OPEC and the IEA this week that may provide clues on the demand outlook. Woodside Energy dropped 2% and Santos fell 1.9%.
• Worley Limited’s shares are declining today even after it won a contract for professional services with Shell. The company said it would provide design, procurement and construction management support at Shell’s Holland Hydrogen facility at the port of Rotterdam.
• The Dow has closed down by 0.18%, the S&P 500 down by 0.65%, and the NASDAQ ended lower by 1.16%.
• Hang Seng is up by 0.76%, and FTSE 100 is down by 0.43%.

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