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

On 26 July 2022, at AEST 12:02 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 5.10 points or 0.08%, and is currently trading at 6,795.00 levels. Out of 11 sectors, 8 sectors are trading lower despite the gain in the S&P/ASX 200.

The Energy and Materials sectors are the top 2 gaining sectors, gaining 2.17% and 1.32% in their index values. On the other hand, the Consumer Discretionary and Information Technology sectors are the top 2 losing sectors, declining 1.69% and 1.17% in their index values.

Zip Co Limited (ASX: ZIP) and Paladin Energy Limited (ASX: PDN) are the top gaining stocks, gaining 15.789% and 6.097% in their stock prices. On the other hand, Iress Limited (ASX: IRE) and Flight Centre Travel Group Limited (ASX: FLT) are the top losing stocks and are declining 10.809% and 5.165% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is trading higher as investors look ahead to the Federal Reserve meeting and the potential for strong earnings results later in the week.
• Iress Limited's share price declined more than 10% following the company announced the resignation of chief executive Andrew Walsh on Monday.
• Oil prices are gaining on expectations that Russia's reduction in natural gas supply to Europe could encourage a switch to crude, though concerns over weakening fuel demand because of an expected increase in U.S. interest rates limited gains.
• Dow has closed flat, S&P 500 down by 0.1%, and NASDAQ closed lower by 0.7%.
• Hang Seng is up by 0.52%, and FTSE 100 is up by 0.41%.

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