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Guess which sector is delivering the biggest gain across the ASX 200 today

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The S&P/ASX 200 Index (ASX: XJO) is back in the green on Monday, gaining 1.93%, and shares in one sector are leading the way.

The S&P/ASX 200 Materials Index (ASX: XMJ) is outperforming right now, gaining 2.65%. Stocks belonging to the sector currently make up half of the 10 best performing ASX 200 shares.

Among the market’s best performers are lithium shares. Meanwhile, the materials sector’s gold-focused constituents are struggling.

Resource giants BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Fortescue Metals Group Limited (ASX: FMG) are also outperforming.

Let’s take a closer look at what’s going on with ASX materials giants on Monday.

Many ASX 200 materials shares are leading the market on Monday.

It comes as lithium shares continue to rebound from last week’s carnage. Right now, the materials sector is led by the Core Lithium Ltd (ASX: CXO) share price’s 13% gain. Those of Lake Resources N.L. (ASX: LKE) and Liontown Resources Limited (ASX: LTR) are up 8.3% and 8.7% respectively.

Meanwhile, shares in iron ore giants BHP, Rio Tinto, and Fortescue are gaining 2.9%, 4.2%, and 4.5% respectively.

Their gains come despite iron ore futures slumping 0.6% to US$128.53 a tonne on Friday. It closed last week 2.2% lower than the week prior, according to CommSec.

However, it’s not all sunshine in the sector today. Many ASX 200 gold shares are bucking the trend to tumble lower. Evolution Mining Ltd (ASX: EVN) is leading their downfall, plummeting 20% after the company released disappointing guidance for financial year 2022.

In encouraging news for ASX investors, all 11 of the benchmark index’s sectors are currently in the green.

Hot on the materials sector’s heels is the S&P/ASX 200 Energy Index (ASX: XEJ). It has gained 2.48% right now.

The worst performing sector right now is the S&P/ASX 200 Real Estate Index (ASX: XRE). It’s currently 0.79% higher.

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