S&P/ASX 200 trading higher by 0.43%; Financial sector is the top performer

On 13 October 2022, at AEDT 11:55 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 28.80 points or 0.43%, and is currently trading at 6,676.30 levels. Out of 11 sectors, 8 sectors are trading lower despite the gain in the S&P/ASX 200.

The Financial and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 2.12% and 0.48% in their index values. On the other hand, A-REIT and Utilities sectors are the top 2 losing sectors, declining 1.47% and 1.35% in their index values.

Qantas Airways Limited (ASX: QAN) and Kelsian Group Limited (ASX: KLS) are the top-gaining stocks, gaining 10.638% and 5.157% in their stock prices. On the other hand, NIB Holdings Limited (ASX: NHF) and Pilbara Minerals Limited (ASX: PLS) are the top-losing stocks and are declining by 8.988% and 4.449% in their stock prices.

Factors influencing the market-

• Qantas Airways Limited's share price rocketed after the company announced a substantial beat on its 1HFY23 trading update.
• NIB Holdings' share price dropped sharply following the company has successfully completed its fully underwritten $135 million institutional placement.
• Big Four banks' share prices were higher after the Bank of Queensland's margins bounced back, boosting analyst earnings estimates and flagging potentially better conditions for banks in general.
• Oil prices are falling for the third day after a key US inflation metric beat estimates, piling onto worries that the US Federal bank will continue interest rate hikes.
• Dow has closed down by 0.10%, S&P 500 down by 0.33%, and NASDAQ closed lower by 0.09%.
• Hang Seng is down by 0.78%, and FTSE 100 is down by 0.86%.

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