M+ Market Wrap - 11Sep24

FBM KLCI: 1,639.80 pts (-20.55pts, -1.24%)

The FBM KLCI (-1.24%) closed lower as profit-taking emerged within banking heavyweights, namely CIMB (-22.0 sen) and PBBANK (-11.0 sen). Additionally, a hawkish tone from the BoJ dampened sentiment across the Asian stock markets. Market breadth was negative, with losers outnumbering gainers by 825-to-283 stocks. In the broader market, the Telco & Media sector (+0.03%) was the best performer, led by CDB (+6.0 sen) and TM (+4.0 sen), while the Energy sector (-2.84%) declined the most after crude oil plunged below USD70.

Top 3 Active stocks:
GTRONIC (7022): RM0.570 (+3.0 sen)
CIMB (1023): RM8.270 (-22.0 sen)

SAPRNG (5218): RM0.035 (unch)

Volume: 2.96 bn (100-day avg vol: 4.66 bn)
Value: RM3.34 bn (100-day avg val: RM3.68 bn)
Market Breadth: ⬆️283 ⬇️825
Crude palm oil: RM3,935 (+RM50)

Dow Futures: 40,613 pts (-185 pts)

**Source: Bloomberg, M+ **

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