Mid-Market: S&P/ASX 200 Trading Lower By 1.36%; All 11 Sectors Are Trading In The Red Zone

On 19 October 2023, at AEST 12:00 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 96.50 points or 1.36%, and is currently trading at 6,981.10 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The A-REIT and Materials sectors are the top 2 losing sectors, declining 1.71% and 1.68% in their index values.

Weebit Nano Limited (ASX: WBT) and Northern Star Resources Limited (ASX: NST) are the top-gaining stocks, gaining 10.289% and 3.048% in their stock prices. On the other hand, Telix Pharmaceuticals Limited (ASX: TLX) and Netwealth Group Limited (ASX: NWL) are the top-losing stocks and are declining by 17.205% and 6.897% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is sharply lower today and trading below 7000 as Middle East tensions continue to rise, putting investors on the defensive.
• Qantas’ shares are declining after finally terminating its proposed takeover of Alliance Aviation more than six months after the consumer watchdog knocked back the proposal.
• Netwealth Group is trading lower as the company said outflows in the September quarter were elevated due to withdrawals from high-net-worth clients.
• Oil prices fell in Asian trade today following a strong run of gains this week as markets awaited more developments in the Israel-Hamas war, while upcoming signals from the Federal Reserve were also in focus. 
• The Dow has closed down by 0.98%, the S&P 500 down by 1.34%, and the NASDAQ ended lower by 1.62%.
• Hang Seng is down by 0.23%, and FTSE 100 is down by 1.14%.

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