M+ Market Wrap - 23 Oct 24

FBM KLCI: 1,641.53 pts (-1.01pts, -0.06%)

In tandem with sluggish regional market performance, the FBMKLCI (-0.06%) closed lower, as selected Plantation heavyweights, namely SDG (-6.0 sen) and IOICORP (-2.0 sen), dragged down sentiment amid the rise in minimum wage and the multi-tier system on foreign worker levies, which may pressure the sector's margins. However, the market breadth was positive, with gainers outnumbering losers by 563-to-471 stocks. In the broader market, the Telco & Media (+0.42%) sector gained the most, led by REDTONE (+3.5 sen) and OCK (+2.0 sen), while the Utilities sector (-0.47%) declined the most.

Top 3 Active stocks:
INGENIEU (5178): RM0.055 (+0.5 sen)
CAPITALA (5099): RM0.990 (+1.5 sen)

DATAPRP (8338): RM0.150 (-2.0 sen)

Volume: 3.24 bn (100-bar avg vol: 4.13 bn)
Value: RM2.64 bn (100-bar avg val: RM3.49 bn)
Market Breadth: ⬆️563 ⬇️471
Crude palm oil: RM4,493 (+RM107)

Dow Futures: 43,011 pts (-158 pts)

**Source: Bloomberg, M+ **

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