Mid-Market: S&P/ASX 200 Trading Lower By 0.14%; More Sectors Are Trading In Red Zone

On 21 August 2023, at AEST 11:05 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 10.10 points or 0.14%, and is currently trading at 7,138.40 levels. Out of 11 sectors, 8 sectors are trading lower along with the S&P/ASX 200.

The Energy and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 0.25% and 0.18% in their index values. On the other hand, the Information Technology and Consumer Staples sectors are the top 2 losing sectors, declining 1.25% and 0.44% in their index values.

Breville Group Limited (ASX: BRG) and Beach Energy Limited (ASX: BPT) are the top-gaining stocks, gaining 14.168% and 7.080% in their stock prices. On the other hand, Iress Limited (ASX: IRE) and The A2 Milk Company Limited (ASX: A2M) are the top-losing stocks and are declining by 19.420% and 10.729% in their stock prices.

Factors influencing the market-

• The A2 Milk Company’s shares tumbled after it warned that its key China market this year would be more challenging, with a further double-digit decline in value anticipated due to fewer newborns.
• Reliance Worldwide sank following it said that a fall-off in new housing starts in Australia in the June half put its Australian operations under pressure.
• Iress Limited’s share prices crashed around 20% after it suspended its interim dividend following the completion of its plan to sell its managed funds administration business.
• Dow has closed up by 0.07%, S&P 500 down by 0.01%, and NASDAQ ended lower by 0.20%.
• Hang Seng is down by 2.05%, and FTSE 100 is down by 0.65%.

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