KUALA LUMPUR (Feb 15): Bursa Malaysia closed at its intraday high on Tuesday (Feb 15) with the benchmark composite index rising 1% on continuous buying support in selected plantation stocks, a dealer said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 15.77 points to 1,599.61, just a whisker below the psychological 1,600 level, compared with 1,583.84 at Monday's close.
The market bellwether, which opened 2.12 points higher at 1,585.96, hit an intraday low of 1,585.54 in the morning session and thereafter moved on an uptrend mode.
Sime Darby Plantation Bhd surged 45 sen to RM4.69 with 31.08 million shares traded and Kuala Lumpur Kepong Bhd firmed RM1.16 to RM25.52 with 6.93 million shares changing hands. The two stocks contributed a combined 7.75 points to the gains in the FBM KLCI.
The overall market breadth was positive with gainers leading losers 519 to 447, while 448 counters were unchanged, 798 untraded, and 10 others suspended.
Total turnover expanded to 3.57 billion units worth RM2.98 billion from 3.18 billion units worth RM2.49 billion on Monday.
Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI continued its upward trajectory despite the high regional volatility as local investor sentiment was positive.
"Supported by strong buying momentum, the benchmark index is on course to challenge the 1,600 mark, although we expect a minor correction anytime soon due to the overbought situation.
"As such, we anticipate the FBM KLCI to move within the 1,585 to 1,605 range for the rest of the week," he told Bernama.
Among other heavyweights, IOI Corp Bhd rose 13 sen to RM4.27, Press Metal Aluminium Holdings Bhd put on 14 sen to RM6.84, Petronas Chemicals Group Bhd gained 12 sen to RM9.38, and PPB Group Bhd firmed 42 sen to RM17.02.
As for the actives, Dagang NeXchange Bhd slipped two sen to RM1.13, Ta Win Holdings Bhd rose 1.5 sen to 16 sen, SMTrack Bhd inched up half-a-sen to 21 sen, Hibiscus Petroleum Bhd added one sen to RM1.14, while AHB Holdings Bhd perked up 2.5 sen to 24 sen.
On the index board, the FBM ACE ticked up 35.95 points to 6,285.45, FBM 70 improved 35.3 points to 13,695.36, FBM Emas Index bagged 89.57 points to 11,411.29, FBMT 100 Index advanced 91.7 points to 11,097.75, and the FBM Emas Shariah Index firmed 122.87 points to 12,145.64.
Sector-wise, the Financial Services Index perked up 70.07 points to 16,453.43, the Industrial Products and Services Index was 1.38 points better at 211.81, and the Plantation Index climbed 371.06 points to 7,656.42.
The Main Market volume improved to 2.43 billion shares worth RM2.68 billion against 2.14 billion shares worth RM2.22 billion on Monday.
Warrants turnover swelled to 401.45 million units worth RM46.14 million from 294.65 million units worth RM33.86 million previously.
The ACE Market volume increased marginally to 743.33 million shares valued at RM251.02 million versus 742.22 million shares valued at RM232.48 million on Monday.
Consumer products and services counters accounted for 461.5 million shares traded on the Main Market, industrial products and services (652.89 million), construction (65.67 million), technology (286.05 million), SPAC (nil), financial services (80 million), property (179.11 million), plantation (161.31 million), REITs (9.78 million), closed/fund (nil), energy (378.86 million), healthcare (47.29 million), telecommunications and media (29.6 million), transportation and logistics (47.84 million), and utilities (26.91 million).
Source: The Edge
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