S&P/ASX 200 Trading Lower By 0.08%; Dragged Down By IT Sector

On 10 August 2022, at AEST 12:25 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 5.40 points or 0.08%, and is currently trading at 7,024.40 levels. Out of 11 sectors, 6 sectors are trading lower along with the S&P/ASX 200.

The Utilities and Energy sectors are the top 2 gaining sectors, gaining 0.53% and 0.46% in their index values. On the other hand, Information Technology and Healthcare sectors are the top 2 losing sectors, declining 3.31% and 1.19% in their index values.

Imugene Limited (ASX: IMU) and GrainCorp Limited (ASX: GNC) and are the top gaining stocks, gaining 10.185% and 6.544% in their stock prices. On the other hand, At Barbara Limited (ASX: SBM) and The A2 Milk Company Limited (ASX: A2M) are the top losing stocks and are declining 10.744% and 9.100% in their stock prices.

Factors influencing the market-

• A2 Milk Company's share price dropped sharply after its hopes of entering the United States baby formula market to help with the continued shortage crisis have been put on hold after a decision from a key U.S. regulator.
• GrainCorp Limited's shares jumped more than 6% following the company announced its upgraded earnings guidance.
• Oil prices fell today, extending overnight losses after industry data showed U.S. crude stockpiles grew more than expected in the past week.
• Dow has closed down 0.2%, S&P 500 down by 0.4%, and NASDAQ closed lower by 1.2%.
• Hang Seng is down by 0.99%, and FTSE 100 is up by 0.08%.

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