Mid-Market: S&P/ASX 200 Trading Lower; Dragged Down By Materials Sector

On 20 June 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 7.70 points or 0.10%, and is currently trading at 7,762.80 levels. Out of 11 sectors, 7 sectors are trading lower along with the decline in the S&P/ASX 200.

The Consumer Discretionary and Information Technology sectors are the top 2 gaining sectors, gaining 0.30% and 0.08% in their index values. On the other hand, Materials and Consumer Staples sectors are the top 2 declining sectors, declining 0.16% and 0.15% in their index values.

Helia Group Limited (ASX: HLI) and Ventia Services Group Limited (ASX: VNT) are the top-gaining stocks, gaining 9.131% and 1.856% in their stock prices. On the other hand, Red 5 Limited (ASX: RED) and Evolution Mining Limited (ASX: EVN) are the top-losing stocks and are declining by 5.618% and 2.204% in their stock prices.

Factors influencing the market-

• Australian shares are trading sideways at the opening bell as the market seeks to avoid its third down day in four this week.
• Dexus REIT’s shares are down after it said it will lower the valuations of its office properties by 11.4% in FY24 as work from home and higher interest rates affect its modelling.
• Oil prices declined in the previous session after hitting seven-week highs as summer demand optimism and concerns over escalating conflicts offset an industry report that said U.S. crude inventories unexpectedly rose.
• Hang Seng is up by 2.87%, and FTSE 100 is up by 0.17%.

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