Market Daily Report: Bursa Malaysia extends rally, KLCI ends at intraday high for third straight day

 

 

KUALA LUMPUR (Feb 11): Bursa Malaysia extended its rally with the key index ending the week at its intraday high for the third consecutive day, driven by positive sentiment and improved buying interest in banking, plantation and telecommunication heavyweights, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced by 0.56% or 8.79 points to 1,578.89 from 1,570.1 at Thursday's close.

The barometer index, which opened 5.8 points lower at 1,564.3, hit an intraday low of 1,562.91 in the morning session before gathering momentum in the afternoon session to close higher.

Overall market breadth was positive with advancers outnumbering decliners 509 to 446, while 407 counters were unchanged, 856 untraded, and 36 others suspended.

Total turnover narrowed to 3.19 billion units worth RM2.42 billion against 3.2 billion units worth RM2.62 billion at Thursday's close.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said investors were generally optimistic given the improvement in local market sentiment and foreign support.

"However, they should remain cautious and stay alert on the increasing market volatilities and external uncertainties as most key regional markets ended lower following negative cues overnight from Wall Street," he told Bernama.

On the local bourse, heavyweights Sime Darby Plantation Bhd gained 31 sen to RM4.23, Kuala Lumpur Kepong Bhd improved RM1.40 to RM24.14, Malayan Banking Bhd rose two sen to RM8.57, Public Bank Bhd was flat at RM4.35, Petronas Chemicals Group Bhd perked up 11 sen to RM9.22, while IHH Healthcare Bhd lost one sen to RM6.54.

As for the actives, KNM Group Bhd inched up three sen to 18.5 sen, Vortex Consolidated Bhd was half-a-sen lower at 7.5 sen, Dagang NeXchange Bhd firmed two sen to RM1.09, and SMTrack Bhd was half-a-sen higher at 19.5 sen.

On the index board, the FBM ACE gained 11.62 points to 6,344.95, the FBM 70 put on 2.6 points to 13,781.29, the FBM Emas Index perked up 52.81 points to 11,320.42, the FBMT 100 Index climbed 48.14 points to 11,000.73, and the FBM Emas Shariah Index increased 80.57 points to 12,040.39.

Sector-wise, the Financial Services Index added 14.24 points to 16,296.65, the Industrial Products and Services Index was 1.07 points higher at 210.94, and the Plantation Index surged 325.91 points to 7,214.42.

The Main Market volume improved to 1.99 billion shares worth RM2.19 billion versus 1.84 billion shares worth RM2.31 billion on Thursday.

Warrants turnover dwindled to 363.3 million units worth RM44.75 million against 492.16 million units worth RM51.08 million previously.

The ACE Market volume declined to 837.69 million shares valued at RM182.82 million compared to 859.74 million shares valued at RM255.47 million on Thursday.

Consumer products and services counters accounted for 288.26 million shares traded on the Main Market, industrial products and services (469.94 million), construction (72.12 million), technology (378.47 million), SPAC (nil), financial services (56.09 million), property (91.81 million), plantation (131.42 million), REITs (10.06 million), closed/fund (86,400), energy (371.45 million), healthcare (46.23 million), telecommunications and media (20.2 million), transportation and logistics (29.14 million), and utilities (23.31 million).

 

Source: The Edge