M+ Market Wrap - 18 Oct 24

FBM KLCI: 1,645.99 pts (+4.55pts, +0.28%)

The FBM KLCI (+0.28%) extended its gains and closed higher at 1645.99, gaining support by heavyweights like YTL (+6.0 sen) and PMETAL (+8.0 sen). The market is optimistic prior to the Budget 2025 announcement, with 10 out of the 13 sectors closed in the positive territory. The market breadth was positive, with 598 gainers against 396 losers. In the broader market, the Technology (+1.35%) sector gained the most, led by GREATEC (+8.0 sen) and FRONTKEN (+8.0 sen), as bargain hunting activities emerged, while REIT (-0.33%) declined the most. 

Top 3 Active stocks:
NE (0325): RM0.530 (+4.0 sen)
BPURI (5932): RM0.330 (-1.5 sen)

WCT (9679): RM0.925 (+1.0 sen)

Volume: 2.52 bn (100-day avg vol: 4.19 bn)
Value: RM2.17 bn (100-day avg val: RM3.54 bn)
Market Breadth: ⬆️598 ⬇️396
Crude palm oil: RM4,251 (-RM27)

Dow Futures: 43,542 pts (+31 pts)

**Source: Bloomberg, M+ **

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