ASX 200 Ended Higher By 0.97%; Following Fed Meeting

By the end of the trading session on 28 July 2022, the benchmark index S&P/ASX 200 ended higher by 0.97% and settled at 6,889.70. Out of 11 sectors, 9 sectors closed higher along with the ASX 200.

The Materials and Energy sectors were the top 2 gaining sectors, gained 2.43% and 1.30% in their index value. On the other hand, the Utilities and Healthcare sectors were the top 2 losing sectors, declined 1.81% and 0.04% in their index values.

Zip Co Limited (ASX: ZIP) and PointsBet Holdings Limited (ASX: PBH) were the top gainers with 22.580% and 20.608% growth in share prices, respectively. On the other hand, Atlas Arteria (ASX: ALX) and Computershare Limited (ASX: CPU) were the top losers, with a 6.143% and 3.487% drop in share prices, respectively.

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Top Performers for the day:

• Materials (Up 2.43%)
• Energy (Up 1.30%)

Top Loser for the day:                                    

• Utilities (Down 1.81%)
• Healthcare (Down 0.04%)

Other Factors influencing the market:

• S&P/ASX 200 ended higher following a 2.6% rise in U.S. share prices overnight after the Federal Reserve sounded less hawkish than feared when it raised rates 75 basis points.
• Asian shares also gained as investors scented a possible slowdown in the pace of U.S. rate hikes, comforting bond markets and sending the dollar to a three-week low on the yen.
• Atlas Arteria’s share price dropped more than 6% after news that IFM Investors, a fund manager that had built a large position in the company, said it would not acquire the business.
• The U.S. Federal Reserve increased its benchmark overnight interest rate by three-quarters of a percentage point, in line with expectations, to cool inflation, while the dollar fell on hopes for a slower hiking path.
• Oil prices edged up today, extending gains from the previous session, buoyed by lower crude inventories and higher gasoline demand in the United States.
• Dow has closed up 1.2%, S&P 500 up by 2.3%, and NASDAQ closed higher by 3.9%.
• Hang Seng is down by 0.11%, and FTSE 100 is up by 0.57%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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