S&P/ASX 200 Trading Higher By 1.16%; Buoyed By Energy and Utilities Sectors

On 20 September 2022, at AEST 12:25 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 77.70 points or 1.16%, and is currently trading at 6,797.60 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200. The Energy and Utilities sectors are the top 2 gaining sectors, gaining 1.51% and 1.47% in their index values.

New Hope Corporation Limited (ASX: NHC) and Brickworks Limited (ASX: BKW) are the top gaining stocks, gaining 6.776% and 6.435% in their stock prices. On the other hand, Lake Resources N.L. (ASX: LKE) and Home Consortium Limited (ASX: HMC) are the top losing stocks and are declining 2.393% and 2.377% in their stock prices.

Factors influencing the market-

• Reserve Bank of Australia has released the minutes of the Monetary Policy Meeting and said that the size and timing of future interest rate rises would be guided by incoming data and its assessment of the outlook for inflation and the labor market.
• New Hope Corporation Limited’s share price is rising following the company reported an increase in profits for the 12 months ended July 31 amid surging coal prices.
• Lithium stocks extended their gains after carbonate prices hit a new record of 500,500 yuan (US$71,315) a tonne in China.
• Dow has closed up 0.6%, S&P 500 up by 0.7%, and NASDAQ closed up by 0.8%.
• Hang Seng is up by 1.03%, and FTSE 100 is down by 0.62%.

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