Mid-Market: S&P/ASX 200 Trading Lower By 0.18%; Dragged Down By Energy And Utilities Sectors

On 11 August 2023, at AEST 11:05 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 13.20 points or 0.18%, and is currently trading at 7,344.40 levels. Out of 11 sectors, 5 sectors are trading lower along with the S&P/ASX 200.

The Information Technology and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 0.59% and 0.29% in their index values. On the other hand, the Energy and Utilities sectors are the top 2 losing sectors, declining 1.09% and 0.62% in their index values.

The Star Entertainment Group Limited (ASX: SGR) and Syrah Resources Limited (ASX: SYR) are the top-gaining stocks, gaining 8.593% and 4.123% in their stock prices. On the other hand, Bluescope Steel Limited (ASX: BSL) and New Hope Corporation Limited (ASX: NHC) are the top-losing stocks and are declining by 4.286% and 4.140% in their stock prices.

Factors influencing the market-

Bluescope Steel dropped sharply after it agreed on a $415 million expansion of its coated metal products factory in Sydney.

Baby Bunting’ shares are declining after slashing its profit and dividend.

Oil prices edged higher today on optimism from the OPEC producer group that oil demand will be robust in 2024 as it also nudged up its expectations for global economic growth.

Dow has closed up by 0.15%, S&P 500 up by 0.03%, and NASDAQ ended higher by 0.12%.

Hang Seng is up by 0.01%, and FTSE 100 is up by 0.41%.

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