At lunch on Thursday the S&P/ASX 200 index has given back its early gains and dropped into the red. The benchmark index is down 0.2% to 6,695.8 points at the time of writing.
Here's what has been happening on the market today:
Bank shares lower.
It has been a disappointing day of trade for the big four banks. Whilst all four are trading lower at lunch, the worst performer in the group is the Commonwealth Bank of Australia (ASX: CBA) share price with a 0.4% decline. This may be down to a spot of profit taking after the banking giant's climbed strongly this month.
Tech shares rise.
One area of the market which is performing strongly today is the tech sector. Following some solid gains on the Nasdaq index overnight, a number of tech shares have stormed higher today. Highlights include Pro Medicus Limited (ASX: PME) and Nearmap Ltd (ASX: NEA) with gains of 3.5% and 3%, respectively. U.S. tech shares pushed higher after President Trump said a trade deal could come soon. The S&P/ASX 200 Info Tech index is up 0.7% at lunch.
Gold miners sink lower.
Tech shares may be pushing higher, but the same cannot be said for gold miners. The likes of Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) have tumbled after the gold price came under pressure overnight and dropped 2% lower. This has led to the S&P/ASX All Ords Gold index sliding a disappointing 3.3% today.
Best and worst performers.
The best performer on the S&P/ASX 200 index on Thursday has been the Jumbo Interactive Ltd (ASX: JIN) share price with a gain of over 4.5%. The online lottery ticket seller's shares have taken off despite there being no news out of it today. Going the other way is the Silver Lake Resources Limited (ASX: SLR) share price. Its shares are the worst performers on the index at lunch with a 4.5% decline caused by weakness in the gold price overnight.
