KUALA LUMPUR, July 1 ― Bursa Malaysia remains on an uptrend at mid-morning, with gainers led by Axiata and Digi.
At 11.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 6.61 points or 0.4 per cent to 1,537.74.
The market bellwether opened 0.71 of-a-point higher at 1,533.34 from yesterday’s close of 1,532.63.
On the broader market, gainers outpaced losers 414 to 285, while 388 counters were unchanged, 1,078 untraded and nine others suspended.
Turnover stood at 2.08 billion units valued at RM956.71 million.
Axiata led the list of gainers among the heavyweights after its shares rose by seven sen to RM3.81, while Digi added five sen to RM4.18.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim noted that Digi’s shares dropped by 3.0 per cent yesterday, so its uptrend today could due to bargain buying.
Speaking to Bernama, he said investors are also expecting a strong synergy from the Digi-Celcom merger.
“For instance, Axiata has shared an estimated value accretion of RM8 billion (on net present value basis) through cost synergies, including savings from network-related capital expenditure and expenses,” he said.
Aside from Axiata and Digi, heavyweights IHH added eight sen to RM5.55, CIMB was four sen better at RM4.65 and Genting Malaysia up six sen to RM2.83.
Of the actives, Serba Dinamik improved half-a-sen to 33.5 sen, Sarawak Consolidated expanded 9.5 sen to RM61 sen, and Sedania surged 13.5 sen to 86 sen.
On the index board, the FBM Emas Index recovered 32.24 points to 11,189.46, the FBMT 100 Index inched up 33.50 points to 10,908.59, and the FBM Emas Shariah Index rose 34.22 points to 12,212.50.
The FBM ACE jumped 107.92 points to 7,057.27 and the FBM 70 was 5.93 points higher at 14,484.92.
Sector-wise, the Financial Services Index edged up 40.89 points to 15,139.20, the Industrial Products and Services Index was 0.39 of-a-point better at 186.69, and the Plantation Index shed 7.22 points to 6,394.26. ― Bernama
