KUALA LUMPUR, Jan 22 — Bursa Malaysia opened lower but continued its upwards momentum thereafter, lifted by gains in selected heavyweights.
At 9.28am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 7.13 points better at 1,594.46 from yesterday’s close of 1,587.33, after opening 2.69 points weaker at 1,584.64.
The overall market breadth on Bursa Malaysia was positive with gainers edging losers 201 to 193, while 279 counters remained unchanged, 1,313 untraded and 38 others suspended.
Turnover amounted to 626.36 million shares worth RM279.87 million.
A dealer said the buying sentiment in selected heavyweights improved on bargain hunting activities following yesterday’s decline as some traders were taking advantage of the lower prices to accumulate quality stocks.
Of the heavyweights, Maybank added one sen to RM8.61, Public Bank gained six sen to RM19.54, Tenaga lost four sen to RM12.84 and Petronas Chemicals was six sen higher to RM7.05.
The most active counter was ACE Market debutant Powerwell Holdings Bhd, which rose two sen to 27 sen, with 171.40 million shares traded after 28 minutes of trading.
At the opening bell, the power distribution management company’s share price stood at 25.5 sen, which is a premium of half-a-sen over its offer price of 25 sen a share, with 2,500 shares traded.
Other actives were Vortex, which was flat at nine sen, Hubline eased half-a-sen at 4.5 sen and Supermax rose 11 sen to RM1.56.
On the index board, the FBM Emas Index increased 44.87 points to 11,364.54, the FBM Emas Shariah Index rose 60.67 points to 12,053.84, the FBMT 100 Index gained 44.25 points to 11,150.71, the FBM 70 perked 33.36 points to 14,237.82, and the FBM Ace eased 7.39 points to 5,627.70.
Sector-wise, the Industrial Products and Services Index inched up 0.25 point to 153.53, the Financial Services Index was 43.86 points higher at 15,369.25 and the Plantation Index lost 9.48 points to 7,510.28. — Bernama
