Bursa rebounds to open higher


, Jan 12 — Bursa rebounded to open higher today on buying interest after three consecutive days of losses, dealers said.

At 9.20am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,823.62, up 6.74 points, from yesterday’s close of 1,816.88, and after opening 8.13 points higher at 1,825.01.

A dealer said rotational speculative trading plays on lower-priced and ACE Market stocks should continue to highlight active trade.

“Important supports are at 1,807, the falling 10-day moving average, and 1,796, the breakout level, while immediate resistance for the index remains at Tuesday’s high of 1,840 followed by 1,867, the April 2017 peak,” he added.

Overall market breadth was positive with gainers beating losers 363 to 113, while 228 counters were unchanged, 1,110 untraded and 21 others suspended.

Turnover stood at 393.44 million shares worth RM187.11 million.

Among heavyweights, Maybank was flat at RM9.84, while TNB lost two sen to RM15.80.

bagged 10 sen to RM20.9 and Petronas Chemicals and CIMB gained five sen each to RM8.12 and RM6.80 respectively.

Of the actives, Sapura Energy perked 2.5 sen to 89.5 sen, UMW O&G added 1.5 sen to 42 sen, Hubline and PUC gained half-a-sen each to 15 sen and 31.5 sen respectively, and Matang climbed one sen to 11.5 sen.

The FBM Emas Index was 56.93 points higher at 13,212.63, the FBMT 100 Index increased 53.34 points to 12,853.76 and the FBM 70 rose 88.25 points to 16,563.61.

The FBM Emas Shariah Index went up 59.021 points to 13,700.58 and the FBM Ace was 76.97 points higher at 6,942.17.

Sectorwise, the Finance Index rose 64.23 points to 17,205.4, the Plantation Index climbed 5.38 points to 8,093.01 and the Industrial Index was up 10.54 points to 3,389.71. — Bernama
Source: The Malay Mail

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