Daily Markets Briefing: STI down 0.05%

Local sentiment will be cautious today.

The Straits Times Index (STI) ended 1.7 points or 0.05% lower to 3238.31, taking the year-to-date performance to +12.41%.

The top active stocks were DBS, which gained 0.05%, Singtel, which declined 0.26%, OCBC Bank, which gained 0.28%, UOB, which declined 0.73% and CapitaLand, with a 0.55% fall. The FTSE ST Mid Cap Index declined 0.13%, while the FTSE ST Small Cap Index rose 0.27%.

According to OCBC, the weakness on Wall Street overnight is likely to keep local sentiment cautious today, limiting any upside in the near term.

"We continue to peg the immediate resistance at 3250, ahead of 3300; on the downside, the immediate support remains at 3200, ahead of 3170. Overall volume dwindled 22.4% with 1.5b units traded, and total value dipped 4.5% to S$0.9b, while average value/unit gained 23.1% to S$0.63," it added.