Daily Markets Briefing: STI up 0.85%

YTD performance now up 10.55%.

The Straits Times Index (STI) ended 26.75 points or 0.85% higher to 3184.57, taking the year-to-date performance to +10.55%, according to SGX.

"The top active stocks Wednesday March 29, 2017 were DBS, which gained 1.42%, Singtel, which gained 0.26%, UOB, which gained 0.59%, OCBC Bank, which gained 1.04% and Keppel Corp, with a 1.60% advance. The FTSE ST Mid Cap Index gained 0.44%, while the FTSE ST Small Cap Index rose 0.23%," SGX said.

According to OCBC, the mixed reactions on Wall Street overnight are unlikely to provide much of a boost to the local bourse this morning.

Here's more from OCBC:

As a recap, STI managed to overcome the 3180 key hurdle yesterday, but the ability of the index to sustain itself convincingly above this level remains crucial.

We peg the initial hurdle at 3200, followed by 3270 for now; on the downside, we peg the immediate support at 3150, ahead of 3100.

Overall volume rose 20.6% with 3.3b units traded, and total value climbed 11.0% to S$1.4b, while average value/unit lost 8.0% to S$0.42.

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