S&P/ASX 200 Trading Higher By 1.22%; Lifted by Energy and Materials Sectors

On 21 June 2022, at AEST 12:07 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 78.80 points or 1.22%, and is currently trading at 6,512.20 levels. Out of 11 sectors, 8 sectors are trading higher along with the S&P/ASX 200. The Energy and Materials sectors are the top 2 gaining sectors, gaining 2.77% and 1.89% in their index values. On the other hand, the Healthcare and A-REIT sectors are the top 2 losing sectors, declining 1.29% and 0.48% in their index values.

Paladin Energy Limited (ASX: PDN) and Whitehaven Coal Limited (ASX: WHC) are the top gaining stocks, gaining 6.194% and 5.726% in their stock prices. On the other hand, Megaport Limited (ASX: MP1) and Premier Investments Limited (ASX: PMV) are the top losing stocks and are declining 3.585% and 3.430% in their stock prices.

Factors influencing the market-

• Oil prices are rising, offsetting last week's losses as the focus returned to the tight supply of crude and fuel products versus concerns about a recession hitting demand down the track.
• The materials sector bounced back from its decline, with Rio Tinto up 2.21 % to $103.84, BHP rising 1.98% to $41.06, and Fortescue climbing 1.99% to $17.34.
• Reserve Bank of Australia Governor Philip Lowe flagged a lot more policy tightening ahead as rates were still "very low," and it was important that higher inflation did not feed into public expectations and wage claims.
• Hang Seng is up by 0.28%, and FTSE 100 is up by 1.50%.

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