M+ Market Wrap - 29 Jul 24

FBM KLCI: 1,624.56 pts (+11.68pts, +0.72%)

The FBM KLCI (+0.72%) ended higher lifted by the buying pressure in Industrial Products & Services and Financials heavyweights namely PMETAL (+12.0 sen) and CIMB (+7.0 sen); tracking the regional market performances following the release of core PCE data, which was in line, lifting the market sentiment and future rate cuts possibilities. Meanwhile, the market breadth was positive as gainers were ahead of losers by 626-to-455 stocks. On the broader market, the Property sector (+1.90%) was the best performing sector led by SIMEPROP (+10.0 sen) and IOIPG (+7.0 sen), while the Healthcare sector (-0.94%) declined the most.

Top 3 Active stocks:
OCR (7071): RM0.085 (-1.0 sen)
VELOCITY (7165): RM0.08 (+2.0 sen)

EKOVEST (8877): RM0.445 (-2.0 sen)

Volume: 4.23 bn (100-day avg vol: 4.69 bn)
Value: RM2.89 bn (100-day avg val: RM3.49 bn)
Market Breadth: ⬆️626 ⬇️455
Crude palm oil: RM3,920 (-RM22)

Dow Futures: 40,897 pts (+66 pts)

**Source: Bloomberg, M+ **

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