Market Pulse - 27Apr23 - Unabated Volatility

The FBM KLCI surrendered its gains in the previous session amid heavy selldown in selected banking and energy heavyweights; the former was affected by the renewed concerns over the US banking crisis. Similarly, on the global front, fears over the potential recession resurfaced, as investors await the US Fed interest rate decision next week. Hence, the cautious sentiment on the local front may persist at least for the near term.