BURSA Malaysia extended its bullish momentum for the fourth consecutive day on Friday to end the Christmas trading week on a merry note, driven by window-dressing activities and robust growth forecasts, said an analyst.
Among the index component counters, utility stocks led the gainers, bolstered by Tenaga Nasional Bhd’s announcement of a change in tariffs for Peninsular Malaysia starting July next year.
At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) bounced 14.44 points, or 0.89 per cent, to 1,628.14, compared with yesterday’s close of 1,613.70.
The market bellwether opened 3.86 points higher at 1,617.56 and moved to an intraday low of 1,616.69 shortly after the morning session before reaching a high of 1,632.63.
The broader market was also positive, with gainers thumping decliners 617 to 420, while 540 counters remained unchanged, 845 were untraded and 40 were suspended.
Turnover improved to 2.87 billion units valued at RM2.08 billion compared to 2.47 billion units valued at RM1.87 billion yesterday. – Dec 27, 2024
