S&P/ASX 200 Trading Higher By 0.36%; Lifted By Materials And IT Sectors

On 09 September 2022, at AEST 12:05 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 24.60 points or 0.36%, and is currently trading at 6,873.30 levels. Out of 11 sectors, 7 sectors are trading lower despite the gain in the S&P/ASX 200.

The Materials and Information Technology sectors are the top 2 gaining sectors, gaining 1.95% and 0.77% in their index values. On the other hand, Consumer Staples and Utilities sectors are the top 2 losing sectors, declining 1.51% and 1.18% in their index values.

Mineral Resources Limited (ASX: MIN) and Nufarm Limited (ASX: NUF) are the top gaining stocks, gaining 11.626% and 6.083% in their stock prices. On the other hand, Liontown Resources Limited (ASX: LTR) and Imugene Limited (ASX: IMU) are the top losing stocks and are declining 5.946% and 4.256% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is trading higher, mirroring Wall Street’s indexes posted gains mainly lifted by financial institutions and healthcare companies, as investors digested hawkish remarks from policymakers.
• Mineral Resources Limited’s share price gained more than 11.0% after the company mulled over strategic options for its lithium business.
• Oil prices have declined from 2022 highs as rising inflation, and interest rates worldwide raised concerns over a potential recession, which could severely depress economic activity.
• Dow has closed up 0.6%, S&P 500 up by 0.7%, and NASDAQ closed higher by 0.6%.
• Hang Seng is up by 0.71%, and FTSE 100 is up by 0.33%.

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