M+ Market Wrap - 18 Nov 24

FBM KLCI: 1,604.04 pts (+11.60pts, +0.73%)

Despite the sluggish overnight performance in the US, the FBM KLCI (+0.73%) bucked the trend and closed higher at 1604.04, primarily driven by PMETAL (+29.0 sen) and MAXIS (+13.0 sen). The market breadth was negative, with 529 losers against 484 winners. In the broader market, the Industrial Products & Services (+1.18%) sector gained the most, led by PMETAL (+29.0 sen) and SUNWAY (+8.0 sen), as China removes tax rebate for its aluminium exports, which could lead to a reduction in export volume and has lifted sentiments for our local aluminimum companies. Meanwhile, the Technology (-0.67%) sector declined the most.

Top 3 Active stocks:
CLASSITA (7154): RM0.065 (unch)
EAH (0154): RM0.005 (unch)

TOPGLOV (7113): RM1.110 (+1.0 sen)

Volume: 2.96 bn (100-bar avg vol: 3.65 bn)
Value: RM2.23 bn (100-bar avg val: RM3.17 bn)
Market Breadth: ⬆️484 ⬇️529
Crude palm oil: RM4,906 (-RM147)

Dow Futures: 43,448 pts (-120 pts)

**Source: Bloomberg, M+ **

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