Daily Markets Briefing: STI up 0.14%

But expect muted gains today.

The Straits Times Index (STI) ended 4.03 points or 0.14% higher to 2843.72 on Thursday, taking the year-to-date performance to -1.35%.

This came as European stocks scored modest gains, with mining shares battling against dollar strength during a quieter-than-usual session with U.S. markets closed for the Thanksgiving holiday.

The US stock market was closed on Thursday due to Thanksgiving Day, and with this local market could see muted gains.

Here's more from OCBC:

As the index is quite close to the key 2850 resistance, the ability of the index to stay convincingly above this level remains crucial. Failing which, we could see a pullback towards 2800.

We continue to peg the initial hurdle at 2850, ahead of 2860; on the downside, we peg the immediate support at 2800, ahead of 2770.

Overall volume dwindled 15.3% with 1.3b units traded, and the total value fell 3.0% to S$1.2; while average value/unit jumped 14.6% to S$0.89.