Daily Markets Briefing: STI up 0.15%

Expect muted gains today.

The Straits Times Index ended 4.74 or 0.15% higher at 3,065.36.

The top active stocks were DBS, which slipped 0.23%, Singtel, which dipped 0.03%, OCBC, which gained 0.02%, UOB, which fell 0.10%, and Venture, with a 0.24% advance.

The FTSE Mid Cap rose 7.72% whilst the FTSE Small Cap inched up 1.79%.

According to OCBC Investment Research (OIR), US stocks ended sharply higher, following closely watched midterm elections that saw Democrats take control of the House, delivering a divided Congress, and news that Attorney General Jeff Sessions was resigning at the request of the president.

All eleven S&P 500 industries ended higher, led by Consumer Discretionary (3.15%) and Health Care (2.94%).

"The rally on Wall Street overnight is likely to provide a boost to the local bourse today, potentially extending the STI’s gains," OIR said.