Mid-Market: S&P/ASX 200 Trading Lower By 0.11%; Dragged Down By Energy Sector

On 17 November 2023, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 8.00 points or 0.11%, and is currently trading at 7,050.40 levels. Out of 11 sectors, 6 sectors are trading lower along with the S&P/ASX 200.

The Materials and Industrials sectors are the top 2 gaining sectors, gaining 0.41% and 0.29% in their index values. On the other hand, the Energy and A-REIT sectors are the top 2 losing sectors, declining 1.72% and 0.67% in their index values.

Graincorp Limited (ASX: GNC) and West African Resources Limited (ASX: WAF) are the top-gaining stocks, gaining 7.019% and 5.625% in their stock prices. On the other hand, Karoon Energy Limited (ASX: KAR) and Steadfast Group Limited (ASX: SDF) are the top-losing stocks and are declining by 4.652% and 4.159% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is declining after opening, tracking a subdued Wall Street, with energy stocks suffering the most after oil prices plummeted more than 4% overnight.
• Nuix Limited’s shares are dropping today after revealing its federal court hearing would kick off on November 20. ASIC is suing the company for breaching disclosure rules in 2021.
• Steadfast Group dropped after completing a $280 million institutional placement at $5.14 a share.
• Energy stocks fell more than 2% after oil prices slipped below $73 a barrel on concerns about demand.
• The Dow has closed down by 0.13%, the S&P 500 up by 0.12%, and the NASDAQ ended higher by 0.07%.
• Hang Seng is down by 1.36%, and FTSE 100 is down by 1.01%.

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