M+ Online Market Wrap - 26 Jul 23

FBM KLCI: 1,449.29 pts (+12.50pts, +0.87%)

Still, the FBMKLCI (+0.87%) continues its rally for the fifth session ahead of the launches of Budget 2024 theme “Madani Economy” as well as the National Energy Transition Roadmap (NETR) tomorrow; it has lifted most of the heavyweights as we believed buying interest has increased from foreigners. Market breadth, remained positive with gainers led losers by 488-to-450 stocks. On the broader market, the property sector traded higher at 1.63% and  we believe the recent news on Johor RTS and revival of HSR boosted the sentiment in the sector. Meanwhile, the industrial products added 1.16%.

Top 3 Active stocks:
HONGSENG (0041): RM0.09 (-0.5 sen)
UEMS (5148): RM0.54 (+6.5 sen)

JOE (7096): RM0.01 (-0.5 sen)

Volume: 4.25 bn (100-day avg vol: 3.01 bn)
Value: RM2.46 bn (100-day avg val: RM1.87 bn)
Market Breadth: ⬆488 ⬇450
Crude palm oil: RM4,084 (+RM18)

Dow Futures: 35,543 pts (-61 pts)

Source: Bloomberg, M+ Online

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