ASX 200 opens higher; Materials lead gains

November 06, 2022 04:34 PM PST | By Khushboo Joshi
 ASX 200 opens higher; Materials lead gains
Image source: © Amarosy | Megapixl.com

Highlights

  • The benchmark index S&P/ASX 200 has started today’s (7 November) trading session on a higher note.
  • It is likely that Australian stock market took cues from the US stocks that finished higher on Friday (4 November).
  • Materials sector was up 2.7% but Information Technology and Financial sectors registered losses.

Australian equity benchmark S&P/ASX 200 opened higher today (7 November), gaining 25.30 points or 0.37% to 6,917.80 as of 10:50 AM AEST.

Key pointers from the ASX market open today:

  • The benchmark S&P/ASX 200 was 0.37% higher at 6,917.80 points at 10:50 AM AEST.
  • Capricorn Metals (ASX:CMM) and De Grey Mining (ASX:DEG) were 8.8% and 7.1% higher respectively.
  • Coronado Global Resources (ASX:CRN) and Block Inc. (ASX:SQ2) were 7.9% and 5.2% down respectively around the same time.
  • Over the last five days, the index has gained 0.79% but is down 7.08% on year-to-date basis.
  • Seven out of eleven sectors opened in green.
  • Materials was 2.76% higher followed by Consumer Discretionary that was 0.70% up. Financial and Information Technology were 1% down each while Consumer Staples was 0.73% higher at the same time.
  • A-REIT was 0.31% lower.
  • A-VIX was 1.34% strong, All Ords was 0.37% up.

Global equity Indices

Equities in the US markets closed on a positive note on Friday. The Dow Jones Industrial Average finished 1.26% higher. The S&P 500 finished 1.36% up and the Nasdaq Composite gained 1.28% on Friday.

Commodities

Gold futures were quoted at US$1,676.80 as of 07 November 2022, 11:18 AM AEDT.

As of 7 November 2022, 11:16 AM AEDT, Crude Oil WTI was quoted at US$90.81/bbl and Brent Oil, around the same time, was at US$96.98/bbl.


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