S&P/ASX 200 Trading Higher By 0.46%; Lifted By Energy And A-REIT Sectors

On 30 August 2022, at AEST 11:50 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 32.30 points or 0.46%, and is currently trading at 6,997.80 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200.

The Energy and A-REIT sectors are the top 2 gaining sectors, gaining 1.72% and 0.81% in their index values. On the other hand, Healthcare and Consumer Staples sectors are the top 2 losing sectors, declining 0.59% and 0.20% in their index values.

Paladin Energy Limited (ASX: PDN) and Mineral Resources Limited (ASX: MIN) are the top gaining stocks, gaining 8.116% and 4.844% in their stock prices. On the other hand, Sandfire Resources Limited (ASX: SFR) and Lynas Rare Earths Limited (ASX: LYC) are the top losing stocks and are declining 5.721% and 3.851% in their stock prices.

Factors influencing the market-

• U.S. stocks closed lower in the previous session, adding to the last week's sharp losses on nagging concerns about the Federal Reserve's determination to aggressively hike interest rates to fight inflation even as the economy slows.
• Sandfire Resource's share price declined after it posted a net profit of US$111.4 million in FY22, down from US$128.6 million in FY21.
• Oil prices increased after traders bet that OPEC will cut production to offset any significant decline in crude rates.
• Dow has closed down 0.6%, S&P 500 down by 0.7%, and NASDAQ closed lower by 1.0%.
• Hang Seng is down by 0.04%, and FTSE 100 is down by 0.70%.

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