S&P/ASX 200 Lower Today; IT and Healthcare Sectors Are the Biggest Laggards

On 12 May 2022, at AEST 12:31 PM, the benchmark index S&P/ASX 200 is down 59.30 points or 0.84%, and is currently trading at 7,005.40 levels. 9 out of 11 sectors are trading lower along with the S&P/ASX 200.

The Information Technology and Healthcare sectors are the top 2 losing sectors, declining 7% and 1.68% in their index value.

Orica Limited (ASX: ORI) and Polynovo Limited (ASX: PNV) are the top gaining stocks, gaining 5.232% and 4.888% in their stock prices. On the other hand, Xero Limited (ASX: XRO) and Life360 Inc (ASX: 360) are the top losing stocks and are declining 9.843% and 8.596% in their stock prices.

Factors influencing the market-

• Australian shares are falling following a decline in US shares in the previous session after the new data showed inflation running faster than expected.
• Orica Limited’s share price is rising after the company announced that its revenue grew by 25% to $3.3 billion, while the underlying profit increased to $129.2 million.
• Dow has closed down by 1.0%, S&P 500 declined by 1.7%, and NASDAQ closed down by 3.2%.
• Hang Seng is down by 1.2%, and FTSE 100 is up by 1.44%.

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