Daily Markets Briefing: STI down 0.51%

Expect investors to remain cautious today.

According to SGX, the Straits Times Index (STI) ended 16.02 points or 0.51% lower to 3126.88, taking the year-to-date performance to +8.54%.

The top active stocks yesterday were Singtel, which declined 0.77%, DBS, which declined 0.48%, Global Logistic, which declined 1.43%, OCBC Bank, which closed unchanged and UOB, with a 0.09% fall. The FTSE ST Mid Cap Index declined 0.36%, while the FTSE ST Small Cap Index declined 0.34%.

According to OCBC, the continued weakness on Wall Street overnight could cause investors to remain cautious again today.

"We expect the market to be range-bound between 3100 and 3150 today; and peg the next resistance and support level at 3200 and 3065 respectively. Overall volume climbed 33.3% with 3.0b units traded, while total value lost 2.3% to S$1.0b, and average value/unit dipped 26.7% to S$0.35," added OCBC.

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