KUALA LUMPUR, April 25 ― Share prices on Bursa Malaysia erased yesterday's losses to open higher in the early session today, driven by gains in selected heavyweights.
At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.66 points better at 1,866.94, after opening 1.09 points higher at 1,866.37.
Top gainers are Dutch Lady, which surged 60 sen to RM47, United Plantations soared 26 sen to RM25.76 and British American Tobacco was 20 sen higher at RM61.80.
Turnover stood at 167.64 million shares worth RM92.1 million.
Market breadth was positive with gainers leading losers 190 to 108, while 210 counters were unchanged, 1,120 untraded and 15 others were suspended.
RHB Research maintained its bullish near-term technical outlook for the FBM KLCI with support levels at 1,845 points and 1,85 points.
“It's essential for the index to eventually hit above the 1,882 points historic high. If not, it simply means that the index has been trending sideways since the 131.45 points intra-day gains recorded on May 6 last year.
“Judging by the FBM KLCI’s current overall technical landscape, especially with its current 62.7 points daily relative strength index, odds are high that the historic high could be re-tested very soon,” the research house said in a note.
On heavyweights, Maybank rose 1.0 sen to RM9.97, TNB added 2.0 sen to RM11.96, Public Bank lost 2.0 sen to RM20.24, CIMB eased 1.0 sen to RM7.51 and Axiata was flat at RM6.65.
Among actives, 1Utopia and Asia Bioenergy remained unchanged at 8.5 sen and 7.5 sen, respectively, while Iris Corporation inched up 1.0 sen to 50.5 sen and PDZ Holdings added half-a-sen to 16.5 sen.
On the scoreboard, the Plantation Index increased 26.54 points to 9,029.4, the Industrial Index gained 3.01 points to 3,173.86 but the Finance Index lost 4.91 points to 17,089.94.
The FBM Emas Index rose 9.52 points to 12,962.61, the FBMT100 Index was 8.69 points higher at 12,593.29, the FBM Ace soared 50.86 points to 6,950.63 but the FBM 70 eased 0.09 of-a-point to 14,204.68. ― Bernama
