Market Pulse - 24Jul23 - Ticking higher

Expectedly, the local bourse continues to make headway as bargain hunting activities are still prevalent among beaten down sector leaders of late. The near-term outlook remains firm and we see further upsides as the key index continues its recovery trend. The lower liners may capitalise onto the upward move, on the back of rotational play. Meanwhile, on Wall Street, the recent batch of corporate earnings releases have failed to spark the markets and that may see some near-term weakness, in our view. On the brighter note, markets are pricing in the final 25 basis points of interest rate hike this week and that the aggressive rate hiking campaign may likely to be at the tail-end. 

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