M+ Market Wrap - 1 Aug 24

FBM KLCI: 1,624.25 pts (-1.32pts, -0.08%)

The FBM KLCI (-0.08%) ended marginally lower dragged by selling pressure in Industrial Products & Services and Utilities namely SUNWAY (-14.0 sen) and PETGAS (-32.0 sen) despite the strong overnight US market performance as the Fed signalled possible rate cuts in September provided inflation cools further. Meanwhile, the market breadth was negative as losers outpaced gainers by 654-to-442 stocks. On the broader market, the Energy sector (+0.60%) was the best performing sector led by DIALOG (+1.0 sen) and VELESTO (+0.5 sen), while the Construction sector (-0.56%) declined the most.

Top 3 Active stocks:
SMTRACK (0169): RM0.030 (-1.0 sen)
EKOVEST (8877): RM0.440 (-1.0 sen)

VELESTO (5243): RM0.220 (+0.5 sen)

Volume: 3.51 bn (100-day avg vol: 4.67 bn)
Value: RM2.71 bn (100-day avg val: RM3.45 bn)
Market Breadth: ⬆️442 ⬇️654
Crude palm oil: RM3,877 (-RM31)

Dow Futures: 41,068 pts (-5 pts)

**Source: Bloomberg, M+ **

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