S&P/ASX 200 Bounced Back; Lifted By IT And Energy Sector

On 24 August 2022, at AEST 12:05 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 32.50 points or 0.47%, and is currently trading at 6,994.30 levels. Out of 11 sectors, 7 sectors are trading higher along with the S&P/ASX 200.

The Information Technology and Energy sectors are the top 2 gaining sectors, gaining 2.29% and 2.03% in their index values. On the other hand, Consumer Staples and Telecommunication Services sectors are the top 2 losing sectors, declining 1.67% and 0.91% in their index values.

Wisetech Global Limited (ASX: WTC) and Domino’s Pizza Enterprises Limited (ASX: DMP) are the top gaining stocks, gaining 11.528% and 9.348% in their stock prices. On the other hand, EML Payments Limited (ASX: EML) and Nanosonics Limited (ASX: NAN) are the top losing stocks and are declining 16.081% and 8.547% in their stock prices.

Factors influencing the market-

• Wisetech Global’s share price surged after the company reported Steller performance, with profit surging 80% to $194.6 million.
• Domino’s Pizza Enterprises’ shares are gaining following the stepping up expansion in Asia with the acquisition of 287 stores in Malaysia, Singapore, and Cambodia.
• EML Payments is the biggest laggard of today, as the company has flagged a maximum loss of AU$7.9 million from fraudulent activity within its direct debit processing business.
• Oil prices are falling today, taking a breather from a nearly 4% surge the previous day on receding fears of an imminent output cut by OPEC.
• Dow has closed down 0.5%, S&P 500 down by 0.2%, and NASDAQ closed flat.
• Hang Seng is down 0.18%, and FTSE 100 is down by 0.61%.

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