Mid-Market: S&P/ASX 200 Trading Lower; the tech sector was the worst performer

On 22 October 2024, at AEDT 12:12 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 119.70 points or 1.43%, and is currently trading at 8,224.70 levels. Along with the decline in the S&P/ASX 200, all 11 sectors are trading lower.

Information Technology and A-REIT sectors are the top 2 declining sectors, declining 1.92% and 1.57% in their index values.

West Gold Resources Limited (ASX: WGX) and NRW Holdings Limited (ASX: NWH) are the top-gaining stocks, gaining 4.376% and 3.135% in their stock prices. On the other hand, Audinate Group Limited (ASX: AD8) and Metcash Limited (ASX: MTS) are the top-losing stocks and are declining by 8.910% and 5.071% in their stock prices.

Factors influencing the market-

• Transurban fell 1.5%, despite reaffirming its FY25 distribution guidance of 65¢ per share, and reporting growth in daily traffic across all regions except Melbourne.
• Viva Energy dropped 3.9% following warnings of weaker retail conditions, declining tobacco sales, and rising business costs.
• Audinate Group plunged 10% after cautioning it wouldn't meet its full-year gross profit target, citing ongoing “headwinds” expected to persist into Q2.
• Australian wine exports rose by 34% to $2.39 billion in the year ending September 30, according to Wine Australia.
• Oil prices increased after falling over 8% the previous week, as China implemented measures to boost its economy, and concerns grew over potential supply risks amid Middle Eastern tensions.
• Market updates: The Dow closed down 0.80%, the S&P 500 decreased by 0.18%, while the NASDAQ edged up 0.27%. 
• The Hang Seng dropped 1.57%, and the FTSE 100 declined by 0.48%

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