The S&P/ASX 200 Index (ASX: XJO) slid into the red after a decent start to Tuesday's trade on news the Reserve Bank of Australia lifted interest rates by 0.5% today. The index closed 0.38% lower at 6,826.50 points.
Today's decision from the central bank marks the fifth consecutive month in which Australian interest rates have been hiked, bringing the official cash rate to 2.35%. The move is another effort to tame inflation, which sat at 6.1% at last count.
The S&P/ASX 200 Utilities Index (ASX: XUJ) was the market's worst performing sector today, falling 1.9%.
Meanwhile, the S&P/ASX 200 Information Technology Index (ASX: XIJ) outperformed, lifting 0.7%.
The S&P/ASX 200 Energy Index (ASX: XEJ) also lifted 0.5% amid rising oil prices. The Brent crude oil price rose 2.9% to US$95.74 a barrel overnight while the US Nymex crude oil price gained 2.4% to US$88.92 a barrel.
Finally, iron ore futures saw a 3.3% overnight rise, trading at US$98.47 a tonne. But it wasn't enough to bolster the S&P/ASX 200 Materials Index (ASX: XMJ). It fell 0.7%.
Four of the ASX 200's 11 sectors closed in the green today. But which shares outperformed? Let's take a look.
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Top 10 ASX 200 shares countdown
ASX lithium stocks led on Tuesday, and in the lead was Core Lithium Ltd (ASX: CXO).
A bullish outlook for both the battery-making material and fellow producer Pilbara Minerals Ltd (ASX: PLS) may have been behind the gain.
Find out more about Core Lithium and what it's been up to lately here.
Today's biggest gains were made by these ASX shares:
| ASX-listed company | Share price | Price change |
| Core Lithium Ltd (ASX: CXO) | $1.495 | 9.93% |
| Lake Resources NL (ASX: LKE) | $1.205 | 9.55% |
| Paladin Energy Ltd (ASX: PDN) | $0.90 | 7.78% |
| Pilbara Minerals Ltd (ASX: PLS) | $3.96 | 7.03% |
| New Hope Corporation Limited (ASX: NHC) | $5.72 | 6.12% |
| Liontown Resources Limited (ASX: LTR) | $1.765 | 5.69% |
| Megaport Ltd (ASX: MP1) | $7.26 | 5.22% |
| EML Payments Ltd (ASX: EML) | $0.90 | 4.65% |
| De Grey Mining Limited (ASX: DEG) | $0.965 | 4.32% |
| Allkem Ltd (ASX: AKE) | $14.06 | 4.3% |
Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.
