Mid-Market: S&P/ASX 200 Trading Lower By 0.30%; Dragged Down by Consumer Discretionary

On 12 September 2023, at AEST 10:44 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 21.50 points or 0.30%, and is currently trading at 7,170.80 levels. Out of 11 sectors, 5 sectors are trading lower along with the S&P/ASX 200. The Materials and Information Technology sectors are the top 2 gaining sectors, gaining 0.68% and 0.06% in their index values. Consumer Discretionary and Industrial sectors are the top 2 gaining sectors, declining 0.16% and 0.09% in their index values.

Telix Pharmacy Limited (ASX: TLX) and Megaport Limited (ASX: MP1) are the top-gaining stocks, gaining 4.155% and 3.348% in their stock prices. On the other hand, Syrah Resources Limited (ASX: SYR) and Viva Energy Group Limited (ASX: VEA) are the top-losing stocks and are declining by 4.918% and 3.798% in their stock prices.

Factors influencing the market-

• Viva Energy, a fuel retailer and refiner, experienced a 5.1% decline following reports by Street Talk that Swiss-based Vitol was contemplating reducing its stake in Viva through a minimum $500 million block trade.
• Liontown Resources, a lithium mining company in the midst of a takeover bid, saw a 0.7% drop. This came after Gina Rinehart did not rule out the possibility of launching a competing bid to challenge Albemarle's $6.6 billion acquisition plan.
• Gold mining companies witnessed gains, with St Barbara showing a 2.7% increase, while Northern Star added 1.7% to its value.
• In the oil and gas sector, Santos experienced a 1.2% decline despite securing $1.3 billion through a 10-year bond sale to US investors. Woodside's value decreased by 1%, and Beach Energy lost 1.1%.
• The Dow recorded a 0.22% gain, the S&P 500 exhibited a 0.14% increase, and the NASDAQ showed a 0.09% rise in value.
• On the global front, the Hang Seng index was down by -0.58%, while the FTSE 100 showed a 0.25% increase for the day.

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