Mid-Market: S&P/ASX 200 Trading Lower By 0.06%; More Sectors Are In Green

On 11 May 2023, at AEST 10:56 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 4.00 points or 0.06%, and is currently trading at 7,251.70 levels. Out of 11 sectors, 7 sectors are trading higher despite the decline in the S&P/ASX 200.

The Information Technology and A-REIT sectors are the top 2 gaining sectors, gaining 0.91% and 0.74% in their index values. On the other hand, the Energy and Financial sectors were the top 2 losing sectors, declining 0.43% and 0.41% in their index values.

Allkem Limited (ASX: AKE) and Graincorp Limited (ASX: GNC) are the top-gaining stocks, gaining 13.710% and 7.042% in their stock prices. On the other hand, Capricorn Metals Limited (ASX: CMM) and Westpac Banking Limited (ASX: WBC) are the top-losing stocks and are declining by 3.441% and 3.318% in their stock prices.

Factors influencing the market-

• Australian share market is trading lower as US Consumer Price Index data overnight showed inflation cooling, but worries over inflationary pressure still worry investors.
• Allkem Limited’s share price surged 13.7% to AU$14.68 after announcing a merger with Livent to make a global lithium company New York-listed US$10.6 billion (AU$15.7 billion).
• Graincorp Limited is gaining following the company has upgraded its FY23 earnings guidance.
• Dow has closed down by 0.09%, S&P 500 up by 0.45%, and NASDAQ ended higher by 1.04%.
• Hang Seng is down by 0.53%, and FTSE 100 is down by 0.29%.

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