S&P/ASX 200 Trading Lower By 0.50%; Dragged Down By IT and Consumer Discretionary Sectors

On 03 October 2022, at AEDT 12:40 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 32.10 points or 0.50%, and is currently trading at 6,442.10 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200.

The Utilities and Energy sectors are the top 2 gaining sectors, gaining 0.98% and 0.33% in their index values. On the other hand, Information Technology and Consumer Discretionary sectors are the top 2 losing sectors, declining 2.74% and 1.26% in their index values.

Iluka Resources Limited (ASX: ILU) and Capricorn Metals Ltd (ASX: CMM) are the top gaining stocks, gaining 2.428% and 2.000% in their stock prices. On the other hand, West African Resources Limited (ASX: WAF) and Chalice Mining Limited (ASX: CHN) are the top-losing stocks and are declining by 8.810% and 6.871% in their stock prices.

Factors influencing the market-

• Core Lithium’s share price is falling after completing its AU$100 million placement at AU$1.03 a share.
• West African Resources' share price dropped more than 9.0% following a change in the military leadership in Burkina Faso on the weekend, where it’s Sanbrado gold operation is located.
• Oil prices jumped more than 2% in early Asian trade on Monday as OPEC+ considers cutting output of up to 1 million barrels per day at a meeting this week to support the market.
• Dow has closed down 1.7%, S&P 500 down by 1.5%, and NASDAQ closed lower by 1.5%.
• Hang Seng is up by 0.00%, and FTSE 100 is up by 0.18%.

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