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The Australian sharemarket opened down, extending its loss from the previous session, led by the Consumer Staples sector.

The S&P/ASX 200 Index has fallen 53 points, or 0.72 per cent, to 7393.40.

Ingham’s is one of the most hit stocks, falling 7.65 per cent to $3.26 after revealing that omicron was interrupting operations and hurting sales performance.

What’s driving the market

The dip on the ASX follows broad falls on Wall Street as bond yields kept rising amid anticipation that the U.S. Federal Reserve will lift interest rates this quarter.

The Dow fell 163 points to settle 0.45 per cent lower at 36,067.75, while the S&P 500 fell 0.14 per cent to close at 4,670.28. The Nasdaq finished the afternoon six points higher at 14,942.83 after a feeble late rebound.

New Australian Bureau of Statistics (ABS) data has shown retail turnover rose 7.3 per cent in November 2021, seasonally adjusted. The ABS also reported that the trade surplus fell from $10.78 billion to $9.42 billion in November.

Going up

Health Care and Materials stocks are the only sectors enjoying gains this morning, rising 0.11 and 0.13 per cent respectively.

Health Care stock Polynovo recorded another month of record sales in the US. Shares rose 23.1 per cent accordingly.

Materials stocks have enjoyed some of the biggest gains.

New Age Exploration shares boomed 23.1 per cent after receiving a speeding ticket from the ASX and Riverside Gold enjoyed a 16.7 per cent bump after announcing it had been granted a tenement.

Fellow Materials player Enterprise Metals witnessed a 14.2 per cent jump, while Critical Resources was up 8.06 per cent after reporting assays from its first diamond drill at its Bibsons prospect.

Going down

White Cliff Minerals led the losses today, falling 28 per cent after providing an update on the reconnaissance samples collected during the first pass field trip to Yinnetharra and the start of exploration RC drilling at Reedy’s South.

On the Financial front, BIR Financial has lost some of yesterday’s gains, falling 5.41 per cent on the market this morning.

Despite gains in the Health Care sector overall, InhaleRx stocks have fallen 17 per cent and SDI shares dropped 10.7 per cent after announcing unaudited sales for the six months ending December 31, 2021 increased by 26 per cent compared to the prior corresponding period.

Consumer companies Aquis Entertainment and Bioxyne shares have both fallen, dropping 12.9 per cent and 12.3 per cent respectively.

Other markets

Oil has dropped, which Brent crude was up 23 US cents or 0.28 per cent to US$81.10 a barrel.

Gold also grew slightly. Gold lifted US$3.10 or 0.17 per cent to US$1,801.90 an ounce.

The dollar was up 0.28 per cent to 71.86 US cents.

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