M+ Market Wrap - 14 Oct 24

FBM KLCI: 1,636.54 pts (+2.99pts, +0.18%)

Following Wall Street's rebound driven by the expectations of a Fed rate cut in November after the PPI data came in cooler-than-expectations, the FBM KLCI closed higher at 1636.54, supported by PBBANK (+8.0 sen) and CDB (+5.0 sen). However, investors are likely to remain cautious ahead of this Friday's budget announcement and ongoing tensions in the Middle East, coupled with the ongoing US election. The market breadth was negative, with 341 losers compared to 654 winners. In the broader market, the Telecommunications & Media (+0.89%) sector advanced the most, driven by CDB (+5.0 sen) and MAXIS (+1.0 sen), while the Technology sector experienced the largest decline (-0.82%).

Top 3 Active stocks:
EAH (0154): RM0.005 (unch)
KGROUP (0036): RM0.005 (-0.5 sen)

MYEG (0138): RM0.895 (-2.5 sen)

Volume: 2.24 bn (100-day avg vol: 4.31 bn)
Value: RM2.09 bn (100-day avg val: RM3.61 bn)
Market Breadth: ⬆️341 ⬇️654
Crude palm oil: RM4,297 (-RM53)

Dow Futures: 43,116 pts (-27 pts)

**Source: Bloomberg, M+ **

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