M+ Online Market Wrap - 16 May 24

FBM KLCI: 1,611.11 pts (+7.88pts, +0.49%)

The FBM KLCI (+0.49%) ended higher as investors resumed buying interest after the CPI data from the US was cooler-than-expected, suggesting higher chances of a rate cut going forward. On a side note, the glove counters had seen some profit activities today after yesterday's bullish frenzy buying. Meanwhile, market breadth was positive as gaienrs outnumbered losers at 719-to-491 stocks. On the broader market, the Technology sector (+1.81%) was the leading sector on the back of buying support in PENTA (+33.0 sen) and MPI (+98.0 sen), while the Healthcare sector (-3.59%) declined with KOSSAN falling 26.0 sen.

Top 3 Active stocks:
TOPGLOV (7113): RM1.20 (-6.0 sen)
REVENUE (0200): RM0.23 (-1.5 sen)

MQTECH (0070): RM0.015 (-0.5 sen)

Volume: 6.05 bn (100-day avg vol: 4.22 bn)
Value: RM4.35 bn (100-day avg val: RM2.92 bn)
Market Breadth: ⬆️719 ⬇️491
Crude palm oil: RM3,813 (-RM42)

Dow Futures: 40,066 pts (+27 pts)

Source: Bloomberg, M+ Online

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