Daily Market Report (26 April 2022)
- US equities rallied after a weak opening as all 3 major indices closed in positive territory as bargain hunters emerged especially on mega technology stocks.
- The DJI Average gained 238 points while the Nasdaq jumped by 165 points.
- On the home front, the FBM KLCI was broadly lower amid a weak regional performance as it closed below the 1,590 level.
- For today, we reckon sentiments to remain cautious in view of the wild movements on Wall Street coupled with new lockdowns in China hence expect the index to possibly trend within the 1,580-1,595 range today.
- Meanwhile, crude prices also fell on fears of the lockdowns in China with the Brent crude dipped to US$102/barrel.
