S&P/ASX 200 Trading Higher By 1.02%; 10 Out of 11 Sectors Are In Green

On 12 September 2022, at AEST 12:05 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 70.60 points or 1.02%, and is currently trading at 6,964.80 levels. Out of 11 sectors, 10 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Information Technology sectors are the top 2 gaining sectors, gaining 2.04% and 1.36% in their index values. On the other hand, Healthcare is the only losing sector, declining 0.14% in its index value.

Nickel Industries Limited (ASX: NIC) and EML Payments Limited (ASX: EML) are the top gaining stocks, gaining 6.983% and 6.500% in their stock prices. On the other hand, Liontown Resources Limited (ASX: LTR) and Chorus Limited (ASX: CNU) are the top losing stocks and are declining 3.048% and 2.550% in their stock prices.

Factors influencing the market-

• The materials sector is the top performing sector; BHP Group increased 3.04% to $39.25, Rio Tinto gained 1.64% to $95.910, and Fortescue Metals up by 3.70% to $18.470.
• Liontown Resources declined 2.5% after it awarded Zenith Energy the contract for the supply of power to Kathleen Valley for what is expected to be the largest off-grid wind-solar battery storage hybrid power station for a mining project in Australia.
• After a volatile week, oil prices are lower today, as traders gauged concerns over slowing demand and U.S.-led price caps on Russian crude exports.
• Dow has closed up 1.2%, S&P 500 up by 1.5%, and NASDAQ closed higher by 2.1%.
• Hang Seng is up by 2.69%, and FTSE 100 is up by 1.23%.

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