Here's how the ASX 200 market sectors stacked up this week

The ASX 200 fell 0.16% this week but the utilities sector powered ahead.

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Only two of the 11 market sectors finished the week higher, with the S&P/ASX 200 Index (ASX: XJO) losing 0.16% in value over the past five trading days.

The ASX 200 closed the session on Friday at 6,826.9 points.

Let's look at which sectors were the best and worst performers this week.

Utilities led the ASX sectors this week

According to CommSec data, this week's strongest riser among the market sectors was utilities, with the S&P/ASX 200 Utilities Index (ASX: XUJ) ascending 1.73%.

There are only 31 companies in the utilities sector. This week, it looks like APA Group (ASX: APA) and a few smaller players were behind the sector's gains.

The APA share price rose 4.67% to $8.30 this week amid the company hosting its annual general meeting (AGM) where chair Michael Fraser outlined how APA was participating in the green energy transition.

Fraser said APA was committed "to ensuring our security holders can continue to participate in the growth of the business". He said two examples are the recent equity raising, which was offered to retail investors at a discount to the institutional price, and the reactivation of the dividend reinvestment plan (DRP) this week.

Among the major utilities stocks, AGL Energy Limited (ASX: AGL) shares rose 2.4% to $10.89. Origin Energy Ltd (ASX: ORG) shares lifted 0.11% to $9.21.

The S&P/ASX 200 Materials Index (ASX: XMJ) was the other sector that finished the week in the green, up 0.87%.

This week's big news in mining was the takeover deal for ASX lithium share Azure Minerals Ltd (ASX: AZS). Lithium giant Sociedad Quimica y Minr de Chile SA (NYSE: SQM) has offered $3.52 per share. The Azure Minerals share price finished steady for the week at a closing value of $3.50 on Friday.

Meantime, the three major miners all moved higher this week.

Fortescue Metals Group Ltd (ASX: FMG) shares lifted 5.01% to $22.20, BHP Group Ltd (ASX: BHP) rose 3.8% to $45.06, and Rio Tinto Ltd (ASX: RIO) lifted 4.9% to $117.80 on various news, including a 3.9% lift in the iron ore price over the week to US$120.50 per tonne.

Meantime, ASX REITs tumble

The week's worst-performing sector was real estate, with the S&P/ASX 200 A-REIT Index (ASX: XPJ) dipping 4.38%.

Investors may be nervous that the latest inflation data released this week has raised the likelihood of a Melbourne Cup Day rate rise next month.

Among the ASX property shares and real estate investment trusts (REITs) that fell the most were Dexus (ASX: DXS) shares, which sank back to 2014 levels after the company released its quarterly update.

Dexus also revealed that CEO Darren Steinberg is leaving after 11 years in the role. Dexus shares finished on Friday at $6.46.

The Mirvac Group (ASX: MGR) share price fell 7.4% to $1.88 amid the release of a 1Q FY24 update.

In other news, we looked at whether ASX REITs are rising like home values in 2023.

Tech shares also experienced a sell-off this week amid the NASDAQ entering official correction territory.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) lost 3.71% over the past five days.

Among this week's biggest tech stock losers was Megaport Ltd (ASX: MP1) shares. The company's quarterly update contributed to a total share price decline of 17% to $9.52 over the week.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up this week.

Over the past five days:

ASX market sectorChange this week
S&P/ASX 200 Utilities (ASX: XUJ)1.73%
S&P/ASX 200 Materials (ASX: XMJ)0.87%
S&P/ASX 200 Health Care (ASX: XHJ) -0.48%
S&P/ASX 200 Consumer Discretionary (ASX: XDJ)-0.95%
S&P/ASX 200 Consumer Staples (ASX: XSJ) -1.19%
S&P/ASX 200 Financials (ASX: XFJ)-1.39%
S&P/ASX 200 Energy (ASX: XEJ)-2.27%
S&P/ASX 200 Industrials (ASX: XNJ) -2.43%
S&P/ASX 200 Communication (ASX: XTJ)-2.46%
S&P/ASX 200 Information Technology (ASX: XIJ)-3.71%
S&P/ASX 200 A-REIT (ASX: XPJ)-4.38%

Motley Fool contributor Bronwyn Allen has positions in BHP Group, Commonwealth Bank Of Australia, and Fortescue Metals Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Megaport. The Motley Fool Australia has recommended Apa Group and Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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