Mid-Market: S&P/ASX 200 Trading Lower By 0.52%; Dragged down by Materials

On 23 November 2023, at AEDT 11:25 AM, the benchmark index S&P/ASX 200 is trading lower today, losing 36.70 points or 0.52%, and is currently trading at 7,036.70 levels. Out of 11 sectors, 08 sectors are trading lower along with the S&P/ASX 200.

Telecommunications Services and Consumer Staples sectors are the top 2 gaining sectors, gaining 0.33% and 0.11% in their index values. On the other hand, the Materials and Energy sector was the top losing sector, declining 0.91% and 0.87% in their index values.

Lovisha Holdings Limited (ASX: LOV) and AMP Limited (ASX: DEG) are the top-gaining stocks, gaining 4.708% and 4.705% in their stock prices. On the other hand, Weebit Nano Limited (ASX: WBT) and Chalice Mining Limited (ASX: CHN) are the top-losing stocks and are declining by 4.267% and 4.194% in their stock prices.

Factors influencing the market-

• Origin Energy has initiated a trading halt, triggered by a revised takeover offer from Canada’s Brookfield and EIG Partners.
• TPG Telecom experienced a 1% surge in shares after securing new licenses in the 3.7 GHz spectrum band for $128.2 million.
• Furniture retailer Nick Scali faced an 8.8% decline as CEO Anthony Scali sold $50 million in shares through broker UBS.
• Oil prices dropped due to the delay of the OPEC+ meeting, diminishing expectations of supply tightening intervention.
• The Dow has closed up by 0.53%, the S&P 500 up by 0.41%, and the NASDAQ ended higher by 0.46%.
• The Hang Seng remained unchanged at 0.00%, while the FTSE 100 decreased by -0.17% today.

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