M+ Market Wrap - 16 Aug 24
FBM KLCI: 1,623.90 pts (+10.96pts, +0.68%)
The FBM KLCI (+0.68%) closed notably higher as the index was lifted by buying pressure within the Industrial Products and Banking services heavyweights, namely PCHEM (+33.0 sen) and CIMB (+13.0 sen) in tandem with regional markets' performance following the better-than-expected US economic data; allaying fears of a recession in US. Meanwhile, market breadth was positive with gainers outnumbered losers by 802-to-324 stocks. On the broader market, the Energy (+2.54%) sector was the best performing sector led by YINSON (+18.0 sen) and ARMADA (+2.5 sen) , while the Telco & Media (-0.05%) sector declined the most.
Top 3 Active stocks:
CEB (5311): RM0.420 (-1.0 sen)
SPSETIA (8664): RM1.300 (+1.0 sen)
PESTECH (5219): RM0.200 (+3.0 sen)
Volume: 3.23 bn (100-day avg vol: 4.76 bn)
Value: RM2.76 bn (100-day avg val: RM3.54 bn)
Market Breadth: ⬆️802 ⬇️324
Crude palm oil: RM3,679 (-RM17)
Dow Futures: 40,727 pts (+44 pts)
**Source: Bloomberg, M+ **
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