Bursa Malaysia stays positive at mid-morning

At 11.00am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.43 points higher at 1,518.82 from yesterday’s close of 1,515.39. — Reuters pic

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KUALA LUMPUR, July 29 ― Bursa Malaysia remained in positive territory at mid-morning today, with buying support seen in selected heavyweight stocks.

At 11.00am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.43 points higher at 1,518.82  from yesterday’s close of 1,515.39.

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The index opened 0.42 of-a-point easier at 1,514.97.

On the broader market, gainers led losers 397 versus 305, while 414 counters were unchanged, 1,105 untraded and 80 others suspended.

Turnover stood at 1.76 billion units worth RM896.60 million.

Rakuten Research Sdn Bhd, in a note, said the FBM KLCI closed flat from some late buying by the local institutions amid lower daily volume.

“We do not expect the index to make much progress today as statements from the authorities that COVID cases are expected to increase over the immediate term before a recovery can be seen may stifle sentiments.

“Therefore, we anticipate another muted day today and the index to trend within the 1,510 to 1,520 range,” it added.

Of the heavyweights, Maybank added three sen to RM8.07, Petronas Chemicals rose 13 sen to RM8.12, while TNB eased one sen to RM9.77.

Public Bank and IHH Healthcare were flat at RM4.01 and RM5.80, respectively.

Among the actives, PUC and Kanger added one sen each to 19 sen and seven sen, respectively, Tanco bagged 3.5 sen to 20 sen, Euro Holdings rose 21 sen to 92.5 sen, while Solution Group fell 18 sen to 72 sen.

On the index board, the FBM Emas Index increased 33.75 points to 11,125.97, the FBMT 100 Index went up 32.79 points to 10,831.85 and the FBM 70 surged 76.72 points to 14,635.69.

The FBM Emas Shariah Index was 37.51 points higher at 12,235.10 and the FBM ACE edged up 0.41 of-a-point to 7,240.59.

Sector-wise, the Financial Services Index rose 45.73 points to 14,841.07, the Industrial Products and Services Index added 1.14 points to 189.16, while the Plantation Index shed 1.28 points to 6,168.74. ― Bernama

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