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

On 11 April 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 56.30 points or 0.72%, and is currently trading at 7,792.20 levels. All 11 sectors are trading lower along with the decline in the S&P/ASX 200. The A-REIT and Information Technology sectors are the top 2 declining sectors, declining 2.95% and 1.13% in their index values.

Paladin Energy Limited (ASX: PDNDA) and Computershare Limited (ASX: CPU) are the top-gaining stocks, gaining 869.281% and 2.521% in their stock prices. On the other hand, Arena REIT (ASX: ARF) and Healius Limited (ASX: HLS) are the top-losing stocks and are declining by 4.112% and 4.070% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is dropping today as investors sold interest rate sensitive property, tech and banking stocks in response to anticipations for US interest rate cuts being pushed back to November.
• Avita Medical’s shares plunged after it warned sales for the March quarter dropped below guidance. The company now expects sales between US$11 million and US$11.3 million for the March quarter, versus prior guidance between US$14.8 million and US$15.6 million.
• Oil prices closed higher in the previous session after three sons of a Hamas leader were killed in an Israeli airstrike in the Gaza Strip, feeding worries that ceasefire talks might stall.
• The Dow has closed down by 1.09%, the S&P 500 down by 0.95%, and the NASDAQ ended lower by 0.84%.
• Hang Seng is up by 1.85%, and FTSE 100 is up by 0.33%.

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