Daily Markets Briefing: STI up 0.78%

Good news could be around today.

The Straits Times Index (STI) ended 25.19 points or 0.78% higher to 3261.84, taking the year-to-date performance to +13.23%.

The top active stocks today were Singtel, which declined 0.27%, OCBC Bank, which gained 0.81%, DBS, which gained 1.19%, CapitaLand, which gained 2.78% and Wilmar Intl, with a 1.86% advance.

The FTSE ST Mid Cap Index gained 0.27%, whilst the FTSE ST Small Cap Index rose 0.38%.

According to OCBC Investment Research, US stock-market indexes posted solid gains and closed at all-time highs on Thursday after Congress passed a budget resolution—a step seen as setting the stage for an overhaul of the tax code.

Nine out of 11 S&P 500 industries finished higher, with Information Technology, which rose 1.06%, and Financials, which gained 0.99%, leading the gains, whilst Utilities, which fell 0.12%, and Telecommunication Services, which dropped 0.11%, lost ground.

"The gains on Wall Street overnight could continue to bring some cheer to the local bourse today," OCBC said.

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