The FBM KLCI remained lacklustre as the key index marked its fourth-session decline while the investors were looking around for fresh catalyst. As the final-hour selldown on Wall Street implied persisted concerns over the monthly US CPI data, we believe the global market may remain volatile in the near term. Meanwhile, on the local front, we believe traders are shifting their stance from growth to value stocks and we may expect some rebound in undervalued stocks with solid fundamentals.

The FBM KLCI closed near the 52-week low, taking cue from the negative regional markets on the back of persisted worries over impact of ongoing rate hikes as well as the dissolution of parliament effective on 10th of October. As the global investors remained cautious ahead of the US inflation data on the 13th of October, we reckon the local bourse will likely to stay negative bias at this juncture without any fresh catalysts.

Econframe Bhd (EFRAME) is regarded as a total door solution provide, specialising in the manufacturing and distribution of metal door frames and metal window frames that operates 2 factories with total built up of 17,400 sqf. Since incorporation in 2001, they have completed more than 100 types of products for more than 1,000 projects nationwide.

Another wave of selling pressure hit the FBM KLCI on Friday as investors mulled over the Budget 2023 and bearish sentiment on the regional markets. We believe all eyes will turn to the upcoming GE15 following the dissolution of parliament announced yesterday. The broad market may trade lower given the uncertainties ahead of the GE15, while foreign investors may extend its selling activities since last week.

The all-inclusive RM372.3bn budget is likely to be positive for Malaysia with the approach of providing necessary assistance to targeted groups, support for business and many other aspects of the nation. Key focus is the development expenditure, which saw a jump of 25.6% to RM95bn. Some positive surprises for the M40 include the reduction of 2% tax and cash aids under the e-Pemula initiatives. We expect some optimism to build up within the construction and building material segments, while other beneficiaries include automotive, consumer, telecommunication, technology, tourism, logistics and healthcare sectors.

The FBM KLCI booked marginal losses as investors took profit in the final hour. Meanwhile, the Wall Street has reversed its course after a few days of rebound. Given the selldown on Wall Street, we expect the market may remain volatile in the global scene, while investors on the local front may trade cautiously ahead of the tabling of Budget 2023.

The FBM KLCI climbed for the third consecutive session, taking positive cue from the global markets as industrial products & services and plantation heavyweights led gains. Given Wall Street ended flat without significant selling pressure which may benefit stocks on the local front.

Mr D.I.Y. Group (M) Bhd (MRDIY) started off since July 2005 and has evolved into the largest home improvement retailer in the region with more than 850 stores across Malaysia and Brunei. MRDIY offers an average of 18,000 variety of products in both the physical and online store.