Mid-Market: S&P/ASX 200 Trading Lower; Tech Sector Is Only Gaining Today

On 12 April 2024, at AEST 11:20 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 30.10 points or 0.39%, and is currently trading at 7,783.50 levels. Out of 11 sectors, 10 sectors are trading lower along with the decline in the S&P/ASX 200.

The Information Technology sector is the only gaining sector, gaining 0.85% in its index value. On the other hand, Consumer Staples and Energy sectors are the top 2 declining sectors, declining 0.83% and 0.69% in their index values.

Red 5 Limited (ASX: RED) and Regis Resources Limited (ASX: RRL) are the top-gaining stocks, gaining 5.555% and 4.347% in their stock prices. On the other hand, Karoon Energy Limited (ASX: KAR) and Strike Energy Limited (ASX: STX) are the top-losing stocks and are declining by 3.152% and 3.125% in their stock prices.

Factors influencing the market-

• Australian shares are declining in the week’s final session, after US Federal Reserve members suggested patience to be needed in the fight against global inflation.
• Cettire Limited’s shares are rising today after the company said its sales are up 88% compared to the previous third quarter at $191 million.
• The Star Entertainment Group Limited is falling following it has recorded steep drops in revenue from gaming rooms across the country.
• Oil prices rises today on intensified tensions in the Middle East, where Iran has promised to retaliate for a suspected Israeli air strike on its embassy in Syria, which could risk disruptions to supply from the oil producing region.
• The Dow has closed down by 0.26%, the S&P 500 up by 0.74%, and the NASDAQ ended higher by 1.68%.
• Hang Seng is down by 0.57%, and FTSE 100 is down by 0.47%.

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