Mid-Market: S&P/ASX 200 Trading Lower By 0.76%; Dragged Down By Energy And Materials Sectors

On 23 October 2023, at AEST 11:55 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 52.60 points or 0.76%, and is currently trading at 6,848.10 levels. Out of 11 sectors, 10 sectors are trading lower along with the S&P/ASX 200.

The Healthcare sector is the only gaining sector, gaining 0.67% in its index value. On the other hand, the Energy and Materials sectors are the top 2 losing sectors, declining 1.86% and 1.76% in their index values.

Weebit Nano Ltd (ASX: WBT) and Belleveue Gold Limited (ASX: BGL) are the top-gaining stocks, gaining 18.351% and 4.666% in their stock prices. On the other hand, New Hope Corporation Limited (ASX: NHC) and Allumina Limited (ASX: AWC) are the top-losing stocks and are declining by 8.347% and 4.939% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is trading lower today, mirroring Wall Street worries about further interest rate increases by the Federal Reserve, and fear of the Middle East conflict spreading.
• Treasury Wine Estates’ shares jumped on hopes China will remove its tariffs on Australian wine. The government on Sunday announced that a review of tariffs on Australian wine into China will start and is anticipated to take up to five months.
• South 32 Limited’s shares dropped after the company flagged a 33% decline in coal production this quarter but affirmed output guidance for FY24.
• The Dow has closed down by 0.86%, the S&P 500 down by 1.26%, and the NASDAQ ended lower by 1.53%.
• Hang Seng is down by 0.72%, and FTSE 100 is down by 1.30%.

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