M+ Market Wrap - 7 Oct 24

FBM KLCI: 1,635.29 pts (+5.32pts, +0.33%)

In tandem with the performance of regional markets and a positive overnight rally in the US, the FBM KLCI (+0.33%) gained momentum, led by PMETAL (+18.0 sen) and SIME (+10.0 sen); the latter rose due to an uptrend in crude palm oil prices, which moved above the RM4,300 level. Market breadth was positive, with gainers outnumbering losers by 548-to-476 stocks. In the broader market, the Technology sector (+1.73%) rebounded, led by INARI (+10.0 sen) and UNISEM (+16.0 sen), benefiting from the weakening bias of the ringgit, while the Utilities sector (-0.61%) recorded the steepest decline for the session.

Top 3 Active stocks:
KGROUP (0036): RM0.005 (unch)
OCR (7071): RM0.035 (unch)

ARMADA (5210): RM0.515 (+1.5 sen)

Volume: 2.76 bn (100-day avg vol: 4.48 bn)
Value: RM2.74 bn (100-day avg val: RM3.68 bn)
Market Breadth: ⬆548 ⬇476
Crude palm oil: RM4,309 (+RM9)

Dow Futures: 42,500 pts (-146 pts)

Source: Bloomberg, M+

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