Mid-Market: S&P/ASX 200 Trading Lower By 0.24%; Weighed down by Telecommunication Services

On 19 May 2023, at AEST 11:17 AM, the benchmark index S&P/ASX 200 is trading lower today, gaining 7.70 points or 0.24%, and is currently trading at 7,262.10 levels. Out of 11 sectors, 4 sectors are trading higher along with the S&P/ASX 200.

The Energy and Industrials sectors are the top 2 gaining sectors, gaining 0.55% and 0.13% in their index values. On the other hand, the Consumer Discretionary and Telecommunication sectors were the top 2 losing sectors, declining 0.80% and 0.48% in their index values.

Brainchip Holdings Limited (ASX: BRN) and Kelsian Group Limited (ASX: KLS) are the top-gaining stocks, gaining 8.510% and 2.891% in their stock prices. On the other hand, Allkem Limited (ASX: AKE) and Lovisha Holdings Limited (ASX: LOV) are the top-losing stocks and are declining by 3.654% and 3.339% in their stock prices.

Factors influencing the market-

• Tyro Payments will hold discussions with investors to provide an explanation regarding the breakdown in negotiations with potential acquirer Potentia Capital. 
• At the beginning of Monday's trading session, consumer discretionary stocks weighed down the market.
• The International Energy Agency (IEA) does not anticipate that the actions taken by the Group of Seven Nations to address the circumvention of price limits on Russian energy will have an impact on the crude oil supply situation.
• Dow closed up by 0.33%, S&P 500 up by 0.14%, and NASDAQ ended lower by 0.24%.
• Hang Seng is down by 1.40%, and FTSE 100 is up by 0.19%.

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