Daily Markets Briefing: STI down 0.23%

Analyst forecasts today won't bring any improvement.

The Straits Times Index (STI) ended 7.13 points or 0.23% lower to 3158.57, taking the year-to-date performance to +9.64%, according to SGX.

The top active stocks yesterday, 22 March, were DBS, which declined 0.05%; Singtel, which declined 1.50%; UOB, which declined 0.27%; CapitaLand, which gained 0.27%; and OCBC Bank, with a 0.10% fall. The FTSE ST Mid Cap Index declined 0.12%, while the FTSE ST Small Cap Index rose 0.11%.

According to OCBC, the mixed reactions on Wall Street overnight are unlikely to bring any inspiration to the local bourse this morning.

Here's more from OCBC:

With the breaking of 3150 immediate support yesterday, we now peg the support level at 3100, followed by the next support level at 3065.

On the upside, we peg the initial hurdle at 3150, ahead of 3200. Overall volume climbed 60.9% with 2.5b units traded, and total value jumped 40.7% to S$1.2b, while average value/unit dipped 12.6% to S$0.50.

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