M+ Online Market Wrap - 29 Aug 23

FBM KLCI: 1,454.44 pts (+10.38pts, +0.72%)

The FBM KLCI gained momentum after a two-day sideways consolidation mode as buying interest was noticed within the Banking and Industrial Products heavyweights; PCHEM (+19.0 sen), PBBANK (+6.0 sen) and MAYBANK (+9.0 sen) traded higher supported the FBM KLCI above 1,450. Market breadth was positive with 535 gainers as compared to 504 losers, while 389 traded unchanged. On the broader market, investors and traders are optimistic on the NETR launch today by Anwar Ibrahim; the Utilities sector was boosted strongly by 2.65% led by YTL (+16.0 sen) and YTLPOWR (+14.0 sen). Meanwhile, Industrial Products and Technology rose 0.93% and 0.85%, respectively. 

Top 3 Active stocks:
RGB (0037): RM0.305 (-0.5 sen)
PARKSON (5657): RM0.25 (-6.5 sen)

IWCITY (1589): RM0.76 (+10.0 sen)

Volume: 4.02 bn (100-day avg vol: 3.05 bn)
Value: RM2.85 bn (100-day avg val: RM1.86 bn)
Market Breadth: ⬆535 ⬇504
Crude palm oil: RM3,927 (+RM17)

Dow Futures: 34,570 pts (-24 pts)

Source: Bloomberg, M+ Online

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