M+ Market Wrap - 30 Aug 24

FBM KLCI: 1,678.80 pts (+25.25pts, +1.53%)

The FBM KLCI (+1.53%) closed higher, boosted by buying pressure in utility heavyweights, namely TENAGA (+70.0 sen)  due to stronger earnings amid to the higher electricity sales and benefited from the ringgit strengthening environment. Also, market breadth was positive, with gainers outnumbering losers by 771-to-421 stocks. In the broader market, all sectors ended on a positive note, with the Property sector (+3.45%) rising the most, led by SIMEPROP (+12.0 sen) and IOIPG (+11.0 sen).

Top 3 Active stocks:
SUNWAY (5211): RM4.100 (+11.0 sen)
PBBANK (1295): RM4.820 (+12.0 sen)

VELESTO (5243): RM0.210 (unch)

Volume: 3.96 bn (100-day avg vol: 4.73 bn)
Value: RM6.22 bn (100-day avg val: RM3.61 bn)
Market Breadth: ⬆️771 ⬇️421
Crude palm oil: RM3,987 (+RM47)

Dow Futures: 41,498 pts (+59 pts)

**Source: Bloomberg, M+ **

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