S&P/ASX 200 rises; Buoyed by the Energy and Industrial Sector

On 04 May 2022, at AEST 12:14 AM, the benchmark index S&P/ASX 200 is trading higher, gaining 0.056%, and is currently trading at 7320.3 levels. 6 out of 11 sectors are trading in the green zone along with the S&P/ASX 200. The Energy and Industrial sectors are the top 2 gaining sectors, gaining 1.49% and 0.81% in their index value. On the other hand, the Consumer Discretionary and Information Technology sectors are the top 2 loser sectors and declining 0.77% and 0.67% in their index value.

Incitec Pivot Limited (ASX: IPL) and Hub24 Limited (ASX: HUB) are the top gaining stocks, gaining 3.221% and 3.054% in their stock prices. Imugene Limited (ASX: IMU) and ARB Corporation Limited (ASX: ARB) are the top losing stocks and are declining 9.723% and 8.431% in their stock prices.

Factors influencing the market-

• The energy sector is gaining as the Brent crude oil is 0.87% higher. Also, European Union is planning on new sanctions against Russia for the war that will affect Moscow’s oil industry.
• ARB Corporation tumbled by more than 8% after the company announced a disappointing market update.
• Dow has closed up by 0.2%, S&P 500 up by 0.5%, and NASDAQ closed up by 0.2%.
• Hang Seng is down by 0.36%, and FTSE 100 is up 0.22%.

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