S&P/ASX 200 Sharply Higher; IT Sector Is The Best Performer

On 13 May 2022, at AEST 11:55 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 110.40 points or 1.59%, and is currently trading at 7051.40 levels. All 11 sectors are trading in the green zone along with the S&P/ASX 200. The Information Technology and Energy sectors are the top 2 gaining sectors and gaining 5.07% and 2.61% in their index values.

Link Administration Holdings Limited (ASX: LNK) and Tyro Payments Limited (ASX: TYR) are the top gaining stocks, gaining 9.605% and 9.313% in their stock prices. On the other hand, IGO Limited (ASX: IGO) and Gold Road Resources Limited (ASX: GOR) are the top losing stocks and are declining 3.022% and 2.735% in their stock prices.

Factors influencing the market-

• Australian shares moved up more than 1% as the IT stocks are taking the lead after the NASDAQ bounced in the previous session.
• Brent crude is rising by 0.99% even with weaker demand, helping the energy sector gain.
• Dow has closed down by 0.3%, S&P 500 declined by 0.1%, and NASDAQ closed higher by 0.1%.

Hang Seng is up by 1.3%, and FTSE 100 is down by 1.56%.

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