Sector movers: Construction and Auto stocks pace gains

(Sharecast News) - Construction and Materials and Automobiles & Parts issues were among the best performers on the market as they tended to be on days when geopolitical tensions eased. Both sectors were particularly susceptible to product inflation and supply disruptions because of the war.

Sparking the buying interest, on Wednesday a Ukrainian official said that Kyiv was studying Moscow's latest peace proposal in peace talks.

Those proposals were Russia's response to the draft offer from Ukraine on 29 March in Istanbul.

Nonetheless, no indication was reportedly given regarding possible 'next steps'.

In the background, U.N. Secretary General, Antonio Guterres called on both sides to agree a cease-fire over the Greek Orthodox Easter and for a meeting between the two country's leaders.

Underscoring the impact that the war was having on auto manufacturers, on Wednesday the European Automobile Manufacturer's Association reported a 20.5% drop in new car registrations in the European Union versus a year ago.

That took the monthly tally to 1.13m with ACEA attributing the hit to the lack of semiconductors and other components.

"The ongoing supply chain disruptions, further exacerbated by Russia's invasion of Ukraine, negatively affected car production."

Top performing sectors so far today

Construction & Materials 7,038.28 +4.66%

Industrial Transportation 3,670.56 +3.41%

Retailers 3,009.44 +2.76%

Industrial Support Services 10,845.93 +2.40%

Automobiles & Parts 2,359.63 +2.36%

Bottom performing sectors so far today

Industrial Metals & Mining 8,043.40 -3.56%

Telecommunications Service Providers 3,202.79 -1.00%

Precious Metals and Mining 11,622.32 -0.80%

Oil, Gas and Coal 7,498.44 -0.65%

Pharmaceuticals & Biotechnology 21,294.94 -0.58%