By Oliver Gray
Investing.com - The S&P/ASX 200 added 15.8 points or 0.2% to 6,628.4 during the first hour of Tuesday’s deals, easing from strong gains of 1.1% posted in the previous session as market participants await the Reserve Bank of Australia’s interest rate decision later in the session, with expectations that policymakers will raise cash rate by 50 basis points to 1.35%.
ASX 200 Futures were pointing 0.1% higher.
Among stocks, Consumer Staples posted the largest declines, falling 0.2% as Woolworths Ltd (ASX:WOW) dipped 0.3%, Graincorp Ltd (ASX:GNC) fell 0.5%, Coles Group Ltd (ASX:COL) dipped 0.6% and Metcash Ltd (ASX:MTS) lost 2.1%.
Financials were 0.5% lower with Macquarie Group Ltd (ASX:MQG) adding 0.2%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) down 1.2%, Commonwealth Bank Of Australia (ASX:CBA) falling 0.7%, National Australia Bank Ltd (ASX:NAB) losing 0.5% and Westpac Banking Corp (ASX:WBC) down 0.9%.
Energy companies moved 1.7% higher collectively amid ongoing concerns of tighter Crude Oil supplies. Woodside Energy Ltd (ASX:WDS) gained 1.6%, Beach Energy Ltd (ASX:BPT) added 0.9% and Santos Ltd (ASX:STO) lifted 0.7%.
Information Technology lifted 1.6%, as Block Inc (ASX:SQ2) added 2%, Appen Ltd (ASX:APX) fell 0.7%, Megaport Ltd (ASX:MP1) lifted 2.6% and Novonix Ltd (ASX:NVX) gained 1.6%.
On the bond markets, Australia 10-Year yields were at 3.613% while United States 10-Year rates were at 2.956%.
In New Zealand, the NZX 50 added 0.1% to 10,867.9.