M+ Market Wrap - 8 Nov 24

FBM KLCI: 1,621.24 pts (-2.04pts, -0.13%)

While the interest rate spread between the US and Malaysia reduced, easing the pressure on the ringgit, the FBMKLCI (-0.13%) closed on a negative note as selected Banking heavyweights, namely MAYBANK (-8.0 sen) and PBBANK (-1.0 sen), contributed to the weaker sentiment on the local bourse. The market breadth was negative, with 653 losers compared to 338 gainers. Despite Brent crude oil retreated to USD74 per barrel, the Energy sector (+0.74%) gained the most, led by DIALOG (+12.0 sen) and ARMADA (+1.0 sen). On the other hand, the Technology sector (-2.07%) failed to sustain momentum after PENTA's softer results.

Top 3 Active stocks:
3REN (0328): RM0.450 (-1.0 sen)
MICROLN (0126): RM0.150 (+1.0 sen)

GENETEC (0104): RM0.860 (-6.5 sen)

Volume: 2.70 bn (100-bar avg vol: 3.79 bn)
Value: RM1.86 bn (100-bar avg val: RM3.29 bn)
Market Breadth: ⬆️338 ⬇️653
Crude palm oil: RM5,081 (+RM129)

Dow Futures: 43,899 pts (-11 pts)

**Source: Bloomberg, M+ **

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