M+ Market Wrap - 22 Jul 24

FBM KLCI: 1,622.07 pts (-14.48pts, -0.88%)

The FBM KLCI (-0.88%) ended lower dragged by the selling pressure in Utilities and Financials heavyweights, namely YTL (-10.0 sen) and PBBANK (-5.0 sen) in line with the weak overnight performance on Wall Street following the IT outage caused by Crowdstrike's updates and Joe Biden's quitting election race. Meanwhile, the market breadth was negative as losers outnumbered gainers by 1044-to-285 stocks. On the broader market, all sectors were negative with Construction (-2.16%) being the worst performing sector.

Top 3 Active stocks:
BWYS (0313): RM0.350 (unch)
SAPRNG (5218): RM0.040 (-0.5 sen)

MYEG (0138): RM0.980 (-0.5 sen)

Volume: 5.34 bn (100-day avg vol: 4.67 bn)
Value: RM3.42 bn (100-day avg val: RM3.48 bn)
Market Breadth: ⬆️285 ⬇️1044
Crude palm oil: RM3,993 (+RM32)

Dow Futures: 40,610 pts (+48 pts)

**Source: Bloomberg, M+ **

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