M+ Market Wrap - 19Sep24

FBM KLCI: 1,665.65 pts (+5.06pts, +0.30%)

Despite heightened concerns of recession fears in the US economy amid aggressive rate cuts by the Fed, the FBM KLCI (+0.30%) closed higher after hitting an intraday low of around 1,657, as YTL-related stocks boosted sentiment on the local front. Additionally, market breadth was positive, with gainers outnumbering losers by 898-to-322 stocks. In the broader market, the Construction sector (+3.77%) was the best-performing sector, led by GAMUDA (+35.0 sen) and IJM (+12.0 sen), while the Healthcare sector (-0.75%) declined the most.

Top 3 Active stocks:
SDCG (0321): RM0.505 (+12.5 sen)
GTRONIC (7022): RM0.605 (+7.0 sen)

GENETEC (0104): RM0.945 (+12.5 sen)

Volume: 3.99 bn (100-day avg vol: 4.61 bn)
Value: RM4.08 bn (100-day avg val: RM3.69 bn)
Market Breadth: ⬆️898 ⬇️322
Crude palm oil: RM3,939 (+RM94)

Dow Futures: 42,361 pts (+452 pts)

**Source: Bloomberg, M+ **

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