M+ Online Market Wrap - 29 May 24

FBM KLCI: 1,605.35 pts (-10.47pts, -0.65%)

The FBM KLCI (-0.65%) ended lower as more selling pressure was seen in selected Telco and Banking heavyweights, as selected stocks in those sectors posted weaker profits which may have spurred profit taking activities. Meanwhile, market breadth was negative as losers outnumbered gainers at 835-to-401 stocks. On the broader market, the Utilities sector (+1.09%) was the best performing sector on the back of buying interest in YTLPOWR (+25.0 sen) and YTL (+15.0 sen), as investors may view the YTL merger with Ranhill to provide further synergystic benefits. Meanwhile, the Healthcare sector (-1.42%) was the worst decliner.

Top 3 Active stocks:
KENERGY (7315): RM0.465 (+16.5 sen)
EPICON (4847): RM0.315 (-8.5 sen)

AHB (7315): RM0.125 (-2.5 sen)

Volume: 4.74 bn (100-day avg vol: 4.40 bn)
Value: RM3.69 bn (100-day avg val: RM3.07 bn)
Market Breadth: ⬆️401 ⬇️835
Crude palm oil: RM4,036 (+RM76)

Dow Futures: 38,758 pts (-186 pts)

Source: Bloomberg, M+ Online

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