S&P/ASX 200 Trading Higher; Buoyed By Energy and IT Sectors

On 18 July 2022, at AEST 11:55 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 30.30 points or 0.46%, and is currently trading at 6,635.90 levels. Out of 11 sectors, 8 sectors are trading higher along with the S&P/ASX 200.

The Energy and Information Technology sectors are the top 2 gaining sectors, gaining 1.55% and 1.34% in their index values. On the other hand, the Healthcare and Consumer Staples sectors are the top 2 losing sectors, declining 1.01% and 0.79% in their index values.

Suncorp Group Limited (ASX: SUN) and Whitehaven Coal Limited (ASX: WHC) are the top gaining stocks, gaining 6.216% and 5.169% in their stock prices. On the other hand, Megaport Limited (ASX: MP1) and Appen Limited (ASX: APX) are the top losing stocks and are declining 2.942% and 2.667% in their stock prices.

Factors influencing the market-

• Whitehaven Coal Limited’s share price jumped after the company expects to report a jump in full year earnings due to the surging coal prices.
• Suncorp Group’ shares gaining following it has agreed to sell its banking business to ANZ.
• Oil prices are falling as attention turned back to rising COVID-19 cases in China and the prospect of lockdowns again reducing fuel demand in the world's top oil importing nation.
• Dow has closed up by 2.2%, S&P 500 up by 1.9%, and NASDAQ closed higher by 1.8%.
• Hang Seng is up by 0.06%, and FTSE 100 is up by 1.69%.

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