M+ Online Market Wrap - 28 Jun 24

FBM KLCI: 1,590.09 pts (+5.15pts, +0.32%)

The FBM KLCI (+0.32%) ended higher as the index was lifted by buying pressure in the Telecomunication & Media and Utilities heavyweights as investors could be expecting softer US inflation data and may push the Fed for earlier rate cuts this year. Also, the quarter end window dressing may help lifted the sentiment. Meanwhile, the market breadth was positive as gainers led losers at 673-to-411 stocks. On the broader market, the Telecomunications & Media sector (+1.86%) was the best performing sector led by CDB (+21.0 sen) and AXIATA (+7.0 sen), while the REIT sector (-0.04%)was the sole declining sector.

Top 3 Active stocks:
BORNOIL (7036): RM0.10 (+0.5 sen)
NOVAMSC (0026): RM0.215 (+2.0 sen)

MYEG (0138): RM1.020 (+5.0 sen)

Volume: 4.30 bn (100-day avg vol: 4.42 bn)
Value: RM3.08 bn (100-day avg val: RM3.28 bn)
Market Breadth: ⬆️673 ⬇️411
Crude palm oil: RM3,920 (+RM30)

Dow Futures: 39,594 pts (+44 pts)

Source: Bloomberg, M+ Online

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