Daily Markets Briefing: STI up 0.39%

Expect muted gains today.

The Straits Times Index (STI) ended 11.84 points or 0.39% higher to 3051.78, taking the year-to-date performance to +5.86%.

The top active stocks today were DBS, which gained 0.96%, Singtel, which gained 0.26%, OCBC Bank, which gained 0.96%, Global Logistic, which closed unchanged and UOB, with a 0.05% fall.

OCBC said this came as the Dow Jones Industrial Average on Thursday extended its run into the record books, but the broader market meandered as gains in industrials and consumer-discretionary shares were offset by losses in health-care and consumer-staples.

Meanwhile, five out of eleven S&P 500 industries ended lower, with Health Care (-0.71%) leading the losses while Financials (0.29%) led the gains.

"The muted closing on Wall Street is unlikely to provide much in terms of cues for the local bourse this morning," OCBC said.

Here's more from OCBC:

We expect the STI to hold around 3000 to 3065 in the near term and peg the key resistance and support level at 3100 and 2940 respectively.

Overall volume jumped 26.8% with 2.3b units traded, while total value dipped 4.3% to S$1.2b, and average value/unit fell 22.7% to S$0.53.