KUALA LUMPUR, April 30 — Bursa Malaysia ended the day on a high note after all indexes soared across the board backed by strong market positivity.
At the close, the key index FTSE Bursa Malaysia KLCI (FBM KLCI) gained 27.48 points to 1,380.30, as it moved between 1,383.96 and 1,418.42 between the day.
Market breadth was also positive with gainers outpacing losers by 627 to 297, while 368 counters were unchanged, 629 untraded and 69 others suspended.
Turnover meanwhile rose to 5.85 billion units worth RM3.34 billion compared with yesterday’s 4.82 billion units worth RM2.46 billion.
The biggest gainers for the day were the energy as well as industrial products and services counters backed by better oil prices as well as business resumption by industries.
The energy index gained 5.41 per cent while industrial products upticked by 4.34 per cent, with the total value transacted standing at RM867.89 million
Oil prices had risen overnight as certain countries resumed their economic activities, leading to an increase in demand for the fuel.
As at 5pm, oil prices rallied to close at US$24.26 per barrel after declining to US$19 on Monday and have been in volatile mode since.
As for the bluechips, Petronas Chemicals led the chart as it leaped 46 sen to close at RM5.60, contributing 6.70 points to the composite index.
It was followed by Maybank which rose 16 sen to RM7.57, while Tenaga Nasional strengthened 14 sen to RM12.24, Public Bank gained 38 sen to RM16.38 and Axiata jumped 22 sen to RM3.94.
An analyst said that market optimism was strongly seen across all sector as businesses started resuming normal operations after more than a month of closure.
“While the world is grappling to contain Covid-19, Malaysia is seen to be one of the countries that had managed it at its best, leading to higher market optimism from both local and foreign investors,” she said.
Malaysia, which is now in its phase four of the movement control order (MCO), recorded 57 new cases today including 27 imported cases with two new deaths, bringing the country’s death tally to 102.
On the technical front, she said that the sentiment is expected to continue next week, trending higher as it could test the level of 1,420.
“The immediate resistance now stands at 1,425, with the support level at 1,385, as it also tracks global developments,” she said.
As for the actives, Sapura Energy inched half-a-sen to 8.5 sen while Velesto went up 1.5 sen to 14.5 sen and AirAsia Group added 3.0 sen to 81.5 sen.
Consumer products and services stocks led the gainers with Dutch Lady adding 58 sen to RM48.00, F&N rising 54 sen to RM31.74 and Nestle leaping RM1.10 to RM140.10.
On the index board, the FBM Emas Index was 171.52 points stronger at 9,808.58, the FBMT 100 Index increased 169.97 points to 9,677.21, the FBM Emas Shariah Index advanced 182.29 points to 10,890.14, the FBM ACE appreciated 93.17 points to 4,795.10 while the FBM 70 earned 126.45 points to 11,660.23.
Sector-wise, the Financial Services Index expanded 215.38 points to 12,472.91, the Industrial Products and Services Index inched up 5.01 points to 120.44 while the Plantation Index rose 115.06 points to 6,329.69.
Main Market volume rose to 4.19 billion shares worth RM2.94 billion compared with 3.30 billion shares worth RM2.12 billion yesterday.
Warrants turnover meanwhile slightly declined to 238.4 million units worth RM39.80 million compared with yesterday’s 243.59 million units worth RM59.47.
Volume on the ACE Market climbed to 1.42 billion shares worth RM358.83 million compared with Wednesday’s 1.27 billion shares worth RM276.05 million.
Consumer products and services accounted for 699.28 million shares traded on the Main Market, industrial products and services (638.88 million), construction (296.59 million), technology (387.88 million), SPAC (nil), financial services (77.60 million), property (291.40 million), plantations (123.98 million), REITs (10.80 million), closed/fund (9000),energy (1.34 billion), healthcare (62.29 million), telecommunications and media (89.24 million), transportation and logistics (146.88 million), and utilities (20.91 million).
The market will be closed tomorrow in conjunction with Labour Day. — Bernama
