Bursa Malaysia closes higher on bargain-hunting

Bursa Malaysia closed higher on mild bargain-hunting. — Picture by Hari Angara
Bursa closed higher on mild bargain-hunting. — Picture by Hari Angara

, April 26 — Bursa Malaysia closed higher today on mild bargain-hunting in lower liners and small caps, amid cautious sentiment over the local and growth prospects, dealers said.

At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.16 per cent or 2.70 points to 1,638.38 from Thursday’s close of 1,635.68.

The index opened 2.98 points higher at 1,638.66 and moved between 1,632.58 and 1,639.18 throughout the trading session.

On the broader market, however, losers led gainers 495 to 384, while 359 counters were unchanged, 674 untraded and 64 others suspended.

Volume declined to 2.84 billion units valued at RM2.06 billion against Thursday’s 3.77 billion units valued at RM2.53 billion.

A dealer said investors were cautiously optimistic that the Prime Minister Tun Mohamad’s working visit in currently would provide a positive outcome which could spillover into the various sectors and boost local economic activities.

“At the same time, the decline in oil prices, lacklustre economic data growth globally, despite upbeat corporate earnings by major US companies, were also weighing on investors’ sentiment, prompting some profit-taking ahead of the weekend,” he told Bernama.

News that China would purchase more Malaysian crude palm oil in the future through an agreement have boosted related stocks.

Shares of Sime Darby Plantation rose three sen to RM5.12, Kuala Lumpur added 10 sen to RM24.80 and TDM gained one sen to 23 sen.

Among heavyweights, Maybank improved one sen to RM9.14, added four sen to RM22.64, Petronas Chemicals perked five sen to RM9.10 while Tenaga eased two sen to RM12.14.

Most active counters, Ekovest was flat at 94.5 sen, Bumi Armada dipped 1.5 sen to 23 sen, and Tiger Synergy was down one sen to six sen.

The FBM Emas Index was 11.31 points higher at 11,665.81, the FBMT 100 increased 14.57 points to 11,477.12 and the FBM 70 was up 1.19 points to 14,730.73. 

The FBM Emas Shariah Index was 15.97 points firmer at 11,858.92 but the FBM Ace Index fell 22.74 points to 4,793.84. 

Sector-wise, the Financial Services Index went up 32.64 points to 16,881.46, the Plantation Index advanced 33.64 points to 7,298.47 and the Industrial Products and Services Index improved 0.40 of-a-point to 172.01.

Main Market volume weakened to 2.20 million shares valued at RM1.94 billion against 2.93 million shares worth RM2.37 billion on Thursday.  

Warrants turnover reduced to 354.91 million units worth RM70.76 million from 395.74 million units valued at RM76.81 million.

Volume on the ACE Market dwindled to 286.34 million shares valued at RM48.79 million versus 437.05 million shares worth RM82.68 million yesterday.

Consumer products and services accounted for 269.60 million shares traded on the Main Market, industrial products and services (283.39 million), construction (433.51 million), technology (91.54 million), SPAC (nil), financial services (49.68 million), property (294.47 million), plantation (100.60 million), REITs (4.61 million), closed/fund (43,000), energy (561.46 million), healthcare (45.86 million), telecommunications and media (34.58 million), transportation and logistics (19.75 million) and utilities (14.21 million). — Bernama

Source: The Malay Mail Online

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