M+ Market Wrap - 16 Oct 24

FBM KLCI: 1,632.63 pts (-9.34pts, -0.57%)

In tandem with the sluggish performance in the US, the FBM KLCI (-0.57%) ended lower at 1632.63, dragged down by heavyweights like CIMB (-10.0 sen) and PMETAL (-11.0 sen). The market remains choppy as investors trade cautiously ahead of the Budget announcement, coupled with disappointing results from European giants like LVMH and ASML, which had dented the global sentiment. The market breadth was negative, with 700 losers against 341 winners. In the broader market, the Consumer Products & Services (+0.62%) sector gained the most, led by GENM (+10.0 sen) and HEIM (+126.0 sen), while the Industrial Products & Services (-0.94%) sector experienced the largest decline. 

Top 3 Active stocks:
YTL (4677): RM2.300 (-1.0 sen)
WCT (9679): RM0.910 (-3.5 sen)

SIMEPROP (5288): RM1.500 (-5.0 sen)

Volume: 2.79 bn (100-day avg vol: 4.25 bn)
Value: RM3.17 bn (100-day avg val: RM3.58 bn)
Market Breadth: ⬆️341 ⬇️700
Crude palm oil: RM4,301 (+RM62)

Dow Futures: 42,985 pts (-30 pts)

**Source: Bloomberg, M+ **
 

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