S&P/ASX 200 Trading Higher By 0.41%; Gold Miners Rallied

On 05 August 2022, at AEST 12:20 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 28.60 points or 0.41%, and is currently trading at 7,003.50 levels. Out of 11 sectors, 7 sectors are trading higher along with the S&P/ASX 200.

The Materials and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 1.20% and 0.92% in their index values. On the other hand, Energy and Financial sectors are the top 2 losing sectors, declining 2.10% and 0.15% in their index values.

Novonix Limited (ASX: NVX) and PointsBet Holdings Limited (ASX: PBH) and are the top gaining stocks, gaining 11.439% and 8.490% in their stock prices. On the other hand, Whitehaven Coal Limited (ASX: WHC) and Ampol Limited (ASX: ALD) are the top losing stocks and are declining 3.939% and 3.614% in their stock prices.

Factors influencing the market-

• Energy stocks are broadly lower after the price of US oil fell below US$90 a barrel for the first time since the Russian war in Ukraine; Woodside Energy fell 2.12% to $30.85, and Beach Energy declined 3.230% to $1.72.
• Gold miners are among the best performers after the price of the precious metal rose to its highest level since July 5 overnight; Northern Star added 2.88% to $8.21, and Silver Lake Resources firmed 3.11% to $1.49.
• Oil prices extended losses today, after hitting their lowest since before Russia invaded Ukraine in February, as the market worried over the impact of inflation on global economic growth and demand.
• Dow has closed down 0.3%, S&P 500 down by 0.1%, and NASDAQ closed higher by 0.4%.
• Hang Seng is up by 0.04%, and FTSE 100 is up by 0.03%.

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