KL shares recover from soft opening on bargain hunting

Bargain hunters are out to accumulate quality stocks on Bursa Malaysia to drive prices higher in early trade. — Picture by Ahmad Zamzahuri
Bargain hunters are out to accumulate quality stocks on Bursa to drive prices higher in early trade. — Picture by Ahmad Zamzahuri

, Oct 24 — Shares on Bursa Malaysia were higher in the early session on bargain hunting activities, following two consecutive days of persistent selling.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.19 points better at 1,700.79 from yesterday’s close of 1,722.47

However, the index opened 0.17 of-a-point lower at 1,697.43.

A dealer said some traders decided to take advantage of the low prices to accumulate quality stocks.



“Furthermore, market sentiment was also lifted by higher Asian stocks, whereby the MSCI’s broadest index of Asia- shares outside Japan rose 0.2 per cent,” he added.

On the broader market on Bursa Malaysia, gainers led losers 142 to 141 with 119 unchanged, 1,502 counters untraded and 30 others suspended.

Volume stood at 176.09 million units valued at RM78.62 million.

Among heavyweights, Maybank rose three sen to RM9.43, added 10 sen to RM25, Tenaga was flat at RM14.08 and Petronas Chemicals eased one sen to RM9.33.

For actives, Prestariang gained five sen to 50.5 sen, while Sapura Energy and Borneo Oil were unchanged at 34 sen and 4.5 sen, respectively.

The FBM Emas Shariah Index increased 23.51 points to 11,731.25, the FBM Ace Index increased 20.53 points to 4,980.04 and the FBM 70 was up 86.79 points at 13,637.36.

The FBM Emas Index increased 35.22 points to 11,775.44 and the FBMT 100 Index gained 33.67 points to 11,608.43.

Sectorwise, the Plantation Index added 22.42 points to 7,393.12, the Industrial Products and Services Index was 0.11 of-a-point weaker at 170.18 and the Financial Services Index jumped 46.25 points to 17,312.53. — Bernama



Source: The Malay Mail Online





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