S&P/ASX 200 Trading Lower By 0.67%; Dragged Down by Energy and Materials Sectors

On 20 June 2022, at AEST 12:47 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 43.30 points or 0.67%, and is currently trading at 6,431.50 levels. Out of 11 sectors, 5 sectors are trading lower along with the S&P/ASX 200. The A-REIT and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 2.38% and 1.95% in their index values. On the other hand, the Energy and Materials sectors are the top 2 losing sectors, declining 5.14% and 4.52% in their index values.

PointsBet Holdings Limited (ASX: PBH) and Appen Limited (ASX: APX) are the top gaining stocks, gaining 11.627% and 10.815% in their stock prices. On the other hand, Silver Lake Resources Limited (ASX: SLR) and Chalice Mining Limited (ASX: CHN) are the top losing stocks and are declining 10.770% and 9.757% in their stock prices.

Factors influencing the market-

• Oil prices are lower as worries about slowing global economic growth, fuel demand, and uncertainty weighed on markets after numerous interest rate hikes around the world, which is causing the energy sector to fall.
• The materials sector is sliding sharply after Iron ore futures in China dropped in early trade as concerns mounted about an economic slowdown and its impact on steel demand.
• Pointsbet Holdings’ share price is rising after the company has secured a $94.16 million investment from SIG Sports Investment Corp.
• Dow has closed down by 0.1%, S&P 500 up by 0.2%, and NASDAQ closed higher by 1.4%.
• Hang Seng is down by 0.75%, and FTSE 100 is down by 0.41%.

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