S&P/ASX 200 Trading Higher By 0.22% IT Sector Up By 3.67%

On 24 June 2022, at AEST 12:10 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 14.30 points or 0.22%, and is currently trading at 6,542.70 levels. Out of 11 sectors, 7 sectors are trading higher along with the S&P/ASX 200.

The Information Technology and A-REIT sectors are the top 2 gaining sectors, gaining 3.67% and 1.70% in their index values. On the other hand, the Energy and Financials sectors are the top 2 losing sectors, declining 1.40% and 0.24% in their index values.

Life360 Inc (ASX: 360) and Imugene Limited (ASX: IMU) are the top gaining stocks, gaining 13.692% and 12.500% in their stock prices. On the other hand, Viva Energy Group Limited (ASX: VEA) and Unibail-Rodamco-Westfield (ASX: URW) are the top losing stocks and are declining 3.901% and 3.704% in their stock prices.

Factors influencing the market-

• The Information Technology sector is rising following a 1.6% gain in the tech-heavy NASDAQ in the previous session. The sector is being led by gains in Life360, up 14.10%, Megaport gaining 10.90%, and NOVONIX 10.23% higher.
• Lithium stocks have also rebounded from a horrid session on Thursday. Lake Resources is surging 20%, Liontown up 10.79%, and Pilbara Minerals 7.31%.
• Australian bond yields slumped in early trading on Friday, after Treasuries, as weak economic data from Europe to the US added to growing recessionary fears.
• Energy and Materials stocks are continuing to decline, with commodity prices continuing to deflate amid rising concerns about a recession.
• Dow has closed up by 0.6%, S&P 500 up by 1.0%, and NASDAQ closed higher by 1.6%.
• Hang Seng is up by 1.50%, and FTSE 100 is down by 0.97%.

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