M+ Market Wrap - 17 Oct 24

FBM KLCI: 1,641.44 pts (+8.81pts, +0.54%)

Following the overnight rebound on Wall Street, the FBM KLCI (+0.54%) closed higher at 1641.44, buoyed by heavyweights like PBBANK (+8.0 sen) and TENAGA (+20.0 sen). The market is optimistic ahead of tomorrow's Budget announcement, with most sectors closed in positive territory except for Consumer Products & Services, Telecommunications & Media and also Utilities. The market breadth was positive, with 634 gainers against 391 losers. In the broader market, the Property (+1.06%) sector gained the most, driven by SPSETIA (+8.0 sen) and TANCO (+6.0 sen), as investors speculated property could be one of the beneficiaries from tomorrow's Budget 2025. Meanwhile, the Telecommunications & Media (-0.57%) sector declined the most.

Top 3 Active stocks:
AIZO (7219): RM0.155 (+1.0 sen)
SMTRACK (0169): RM0.020 (unch)

FOCUS (0116): RM0.025 (unch)

Volume: 2.69 bn (100-day avg vol: 4.22 bn)
Value: RM2.45 bn (100-day avg val: RM3.56 bn)
Market Breadth: ⬆️634 ⬇️391
Crude palm oil: RM4,303 (-RM8)

Dow Futures: 43,359 pts (+17 pts)

**Source: Bloomberg, M+ **

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