Mid-Market: S&P/ASX 200 Trading Lower By 1.19%; All 11 Sectors Are Trading In Red Zone

On 22 September 2023, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 84.30 points or 1.19%, and is currently trading at 6,980.90 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Materials and Information Technology sectors are the top 2 losing sectors, declining 1.97% and 1.90% in their index values.

Costa Group Holdings Limited (ASX: CGC) and Genesis Minerals Limited (ASX: GMD) are the top-gaining stocks, gaining 6.551% and 1.797% in their stock prices. On the other hand, Champion Iron Limited (ASX: CIA) and Polynovo Limited (ASX: PNV) are the top-losing stocks and are declining by 4.147% and 3.644% in their stock prices.

Factors influencing the market-

• All 11 sectors on the ASX 200 declined, with interest rate-sensitive tech stocks leading losses, dropping 2.2%. That’s after a 1.82% slump on the tech-heavy Nasdaq overnight.
• Fruit and vegetable processor, Costa Group Holdings Limited’s shares leapt and are the biggest outperformer after accepting a $3.20 cash per share takeover offer by US buyout company Paine Schwartz Partners.
• Australian Clinical Labs fell after the competition watchdog required more information about its planned merger with Healius. Healius shares dropped.
• The Dow has closed down by 1.08%, the S&P 500 down by 1.64%, and the NASDAQ ended lower by 1.82%.
• Hang Seng is down by 1.29%, and FTSE 100 is down by 0.69%.

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