KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
The FBM KLCI index gained 4.76 points or 0.29% on Tuesday. The Finance Index increased 0.28% to 14293.39 points, the Properties Index up 0.01% to 1137 points and the Plantation Index rose 0.08% to 7710.33 points. The market traded within a range of 5.71 points between an intra-day high of 1629.73 and a low of 1624.02 during the session.
Actively traded stocks include APFT, SUMATEC, AIRASIA, HIBISCS, TRIVE, RGB, TENAGA, HSI-H63, HSI-C54 and HSI-H57. Trading volume decreased to 1089.86 mil shares worth RM1553.17 mil as compared to Monday’s 1139.64 mil shares worth RM1352.42 mil.
Leading Movers were PETGAS (+48 sen to RM21.32), PPB (+34 sen to RM16.00), YTL (+3 sen to RM1.54), MISC (+10 sen to RM7.28) and GENTING (+8 sen to RM7.99). Lagging Movers were HAPSENG (-0 sen to RM7.75), AMMB (-1 sen to RM4.23), HLFG (-5 sen to RM14.84), BAT (-40 sen to RM44.90) and SKPETRO (-1 sen to RM1.52). Market breadth was negative with 304 gainers as compared to 409 losers.
The KLCI extended its mid-day gains by ending higher at 1629.73 points, tracking the positive performance in Wall Street overnight. The performance of our local bourse was in tandem with most of the regional peers.

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