M+ Online Market Wrap - 16 Mar 23

FBM KLCI: 1,391.60 pts (-12.33pts, -0.88%)

Again, the FBM KLCI (-0.88%) slid to close below the key 1,400 mark after Wall Street’s slump on renewed concerns over the global banking crisis. Market breadth turned negative as the decliners thumped the advancers by 719-to-238 stocks. Widespread selling pressure dragged 12 of the 13 sectorial indices into the negative territory, with the exception of the health care sector (+4.11%) as sentiment turned positive on the glove manufacturers as they are able to increase the ASP to offset the rising costs; gainers include TOPGLOV (+13.5 sen), HARTA (+21.0 sen), and KOSSAN (+10.0 sen). 

Top 3 Active stocks:
TOPGLOV (7113): RM0.835 (+13.5 sen)
SAPNRG (5218): RM0.045 (-0.5 sen)

ZENTECH (0094): RM0.02 (+0.5 sen)

Volume: 3.52 bn (100-day avg vol: 3.25 bn)
Value: RM2.22 bn (100-day avg val: RM2.08 bn)
Market Breadth: ⬆️238 ⬇️719
Crude palm oil: RM3,945 (-RM22)

Dow Futures: 32,104 pts (+9 pts)

Source: Bloomberg, M+ Online

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