S&P/ASX 200 Trading Higher By 0.03%; Ahead of RBA Rate Rise Decision

On 06 September 2022, at AEST 12:05 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 2.20 points or 0.03%, and is currently trading at 6,854.40 levels. Out of 11 sectors, 9 sectors are trading higher along with the gain in the S&P/ASX 200.

The Information Technology and A-REIT sectors are the top 2 gaining sectors, gaining 1.19% and 0.81% in their index values. On the other hand, Utilities and Healthcare sectors are the top 2 losing sectors, declining 0.87% and 0.20% in their index values.

Pilbara Minerals Limited (ASX: PLS) and Liontown Resources Limited (ASX: LTR) are the top gaining stocks, gaining 5.135% and 4.640% in their stock prices. On the other hand, Super Retail Group Limited (ASX: SUL) and Incitec Pivot Limited (ASX: IPL) are the top losing stocks and are declining 5.146% and 3.656% in their stock prices.

Factors influencing the market-

• Australian shares are rising ahead of another expected rate rise by the Reserve Bank of Australia.
• Australia’s current account surplus increased to $18.3 billion in the June quarter, marking its thirteenth consecutive surplus, which is the longest period on record.
• Oil prices gained after OPEC+ announced that it would trim production levels to offset a drop in prices amid fears of slowing demand and economic growth.
• Hang Seng is up by 0.22%, and FTSE 100 is up by 0.09%.

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