At lunch on Tuesday the S&P/ASX 200 index has returned to form and is up 0.35% to 6,714.6 points.
Here's what has been happening on the market today:
Bank shares higher.
The Australian banking sector is having a positive day of trade on Tuesday. All the big four banks are pushing higher at lunch, with the National Australia Bank Ltd (ASX: NAB) share price once again the best performer. At lunch the banking giant's shares are up 0.8% as investors continue to respond positively to its new chief executive officer appointment.
Domain sinks.
The Domain Holdings Australia Ltd (ASX: DHG) share price has sunk 7% lower after being the subject of a bearish broker note out of UBS this morning. According to the note, the broker has downgraded its shares to a sell rating with a $2.75 price target. Whilst this was largely on valuation grounds after a strong share price rally, UBS notes that listings remain weak and expects Domain to report a decline in revenue in the first half of FY 2020.
Tech shares on the charge.
One of the best performing areas of the market on Tuesday has been the tech sector. A number of Australia's leading tech shares have followed the lead of their U.S. counterparts and charged notably higher today. This includes the Appen Ltd (ASX: APX) share price and the Nearmap Ltd (ASX: NEA) share price which are up 2% and 4%, respectively, at lunch.
Best and worst performers.
The best performer on the benchmark index on Tuesday has been the Bellamy's Australia Ltd (ASX: BAL) share price. The infant formula company's shares are up 4% despite there being no news out of it today. Going the other way is the Domain share price with its 7% decline, followed by the Regis Resources Limited (ASX: RRL) share price which has fallen 3% following the release of its latest quarterly update.
