Bursa Malaysia continues positive streak for second day

A general view inside the RHB Centre stock market in Kuala Lumpur March 2, 2020. — Picture by Firdaus Latif
A general view inside the RHB Centre stock market in Kuala Lumpur March 2, 2020. — Picture by Firdaus Latif

KUALA LUMPUR, March 25 — Bursa Malaysia continued its uptrend streak across board for the second day today in line with global gains.

At close, key index FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.58 per cent or 33.36 points to 1,324.50.

The index moved between 1,304.97 and 1,341.86 throughout the trading day.

On the broader market, gainers outpaced losers 641 to 267, while 356 counters were unchanged, 754 untraded and 26 others suspended.

Turnover, meanwhile, rose to 4.32 billion shares worth RM2.83 billion compared with 3.1 billion shares worth RM2.16 billion yesterday.

An analyst said that based on the turnover volume, the positive momentum is expected to continue as bargain-hunting continues, coupled with a positive global equity forecast.

“Markets globally have recorded an uptick momentum following various measures taken by governments globally to address the economic impact of Covid-19,” she said.

On the oil front, she said the future of the commodity remains uncertain as benchmark Brent Crude has been shelved at US$30 per barrel as of today.

“As oil giants prepare for further dip, there is still room for negotiations between the US, Saudi Arabia, as well as Russia,” she said.

On the technical front, the immediate resistance stood at 1,350 with the support level at 1,290.

On heavyweight performance, Public Bank led the gains, adding 48 sen to RM15.72, followed by Tenaga Nasional which rose 28 sen to RM12.10.

Meanwhile, IHH was 18 sen higher at RM5.10 and CIMB increased eight sen to RM3.52.

Consumer products and services dominated the top gainers today with Carlsberg gaining RM2.00 to RM23.50, Heineken rising RM1.04 to RM21.70, Nestle increasing RM1.00 sen to RM135.50, and PPB climbing 98 sen to RM16.90.

On the index board, the FBM Emas Index surged 245.34 points to 8,988.07, the FBM 70 gained 333.64 points to 10,032.37 and the FBM Emas Shariah Index garnered 299.74 points to 9,770.86.

The FBMT 100 Index increased 239.99 points to 8,929.23 and the FBM Ace rose 106.12 points to 3,658.27.

Sector-wise, the Industrial Products and Services Index added 3.66 points to 100.98, the Plantation Index recovered 179.63 points to 6,013.81 and the Financial Services Index was 152.93 points better at 12,148.42.

Main Market volume increased to 3.22 billion worth RM2.58 billion from yesterday’s 2.25 billion worth RM1.99 billion.

Warrants turnover was slightly higher at 397.21 million worth RM87.36 million from 262.95 million worth RM69.74 million.

Volume on the ACE Market rose to 704.53 million worth RM156.27 million from 632.44 shares worth RM98.43 million.

Consumer products and services accounted for 529.76 million shares traded on the Main Market, industrial products and services (427.77 million), construction (305.15 million), technology (523.34 million), SPAC (nil), financial services (100.45 million), property (199.48 million), plantations (56.47 million), REITs (24.65 million), closed/fund (44,400), energy (831.79 million), healthcare (42.23 million), telecommunications and media (66.50 million), transportation and logistics (71.42 million), and utilities (47.47 million). — Bernama

Related Articles