M+ Market Wrap - 28 Oct 24

FBM KLCI: 1,610.47 pts (-7.83pts, -0.48%)

The FBM KLCI (-0.48%) extended its sixth consecutive decline and closed lower at 1610.47, dragged down by heavyweights like TENAGA (-38.0 sen) and MAYBANK (-14.0 sen). The market is trading cautiously ahead of the US Presidential election next week, coupled with the IMF lowering the global growth forecast, which has caused the negative sentiment towards the local bourse. The market breadth was negative, with 782 losers against 294 gainers. In the broader market, the Consumer Products & Services (+0.23%) sector gained the most, led by NESTLE (+280.0 sen) and PPB (+24.0 sen), as investors shift towards a more defensive sector, while the Utilities (-1.25%) sector declined the most.

Top 3 Active stocks:
LUSTER (5068): RM0.065 (+0.5 sen)
KNM (7164): RM0.070 (+0.5 sen)

GOCEAN (0074): RM0.175 (+1.0 sen)

Volume: 2.45 bn (100-bar avg vol: 4.06 bn)
Value: RM2.21 bn (100-bar avg val: RM3.42 bn)
Market Breadth: ⬆️294 ⬇️782
Crude palm oil: RM4,548 (+RM12)

Dow Futures: 42,523 pts (+202 pts)

**Source: Bloomberg, M+ **

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.