KUALA LUMPUR, Aug 20 ― Bursa Malaysia remained positive at mid-afternoon after resuming trading backed by institutional support in selected heavyweights, lifting the index above the 1,600 immediate resistance level.
At 3.05pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.33 per cent higher at 1,601.71 compared with yesterday’s close of 1,596.45.
The index opened 1.92 points higher at 1,598.37.
Market breadth however saw losers take a step forward, with gainers at 366 against 330, with 373 counters unchanged, 885 untraded and 14 others suspended.
Turnover stood at 1.36 billion units worth RM914.52 million.
An analyst said as the global economy starts to show signs of slowing down, investors remain cautious as they focus on selected heavyweights in equities while some have shifted to government bonds.
“We can see today that government-linked companies such as Petronas related counters and Malaysian Airports show a strong uptake today.
“We also see that Telenor’s Digi and Axiata shares rose today backed by positive sentiment surrounding the merger,” he said.
Of the heavyweights, Petronas Dagangan expanded 22 sen to RM23.08, Petronas Gas added 22 sen to RM16.20 while Malaysia Airports rose 16 sen to RM8.59.
Among telecommunications shares, Digi rose four sen to RM5.01 and Axiata gained two sen to RM4.91.
Of the active stocks, Sapura Energy inched up one sen to 28 sen, Vsolar was flat at 15 sen, while Barakah Offshore, Berjaya Land and Meridian shed one sen to 3.5 sen, 21.5 sen and 12.5 sen respectively.
The FBM Emas Shariah Index appreciated 39.75 points to 11,880.07, the FBM Emas Index added 33.64 points to 11,341.53, the FBMT 100 Index gained 33.15 points to 11,176.06, the FBM Ace contracted 10.66 points to 4,607.80 while the FBM 70 was 27.38 points higher at 14,166.24.
Sector-wise, the Financial Services Index strengthened by 33.10 points to 15,568.60, the Industrial Products and Services Index was marginally lower by 0.28 point at 150.28 and the Plantation Index rose 18.70 points to 6,766.30. ― Bernama
