M+ Market Wrap - 15 Oct 24

FBM KLCI: 1,641.97 pts (+5.43pts, +0.33%)

In line with the positive momentum from Wall Street, the FBM KLCI has extended its gain to close higher at 1641.97, gaining support from key heavyweights like PBBANK (+9.0 sen) and MAYBANK (+12.0 sen). However, investors are likely to remain cautious ahead of several economic events, including the core retail sales and initial jobless claims in US, 3Q GDP announcement in China and Malaysia Budget 2025 announcement on Friday. The market breadth was negative, with 558 losers compared to 509 winners. In the broader market, the Property (+2.51%) sector advanced the most, driven by IOIPG (+14.0 sen) and SIMEPROP (+10.0 sen), as investors speculated it to be one of the beneficiaries for the upcoming Budget 2025 announcement. Meanwhile, the Energy (-2.44%) sector declined the most. 

Top 3 Active stocks:
NE (0325): RM0.505 (unch)
FOCUS (0116): RM0.020 (unch)

PHB (4464): RM0.005 (-0.5 sen)

Volume: 2.87 bn (100-day avg vol: 4.28 bn)
Value: RM2.78 bn (100-day avg val: RM3.59 bn)
Market Breadth: ⬆️509 ⬇️558
Crude palm oil: RM4,261 (-RM52)

Dow Futures: 43,427 pts (+64 pts)

**Source: Bloomberg, M+ **

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