STRONG market sentiment drove Bursa Malaysia higher at midday with all indices showing impressive gains.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 19.90 points to 1,400.20, marginally reaching past its immediate resistance level from yesterday’s close of 1,380.30.
Market breadth was positive with gainers surpassing losers 564 to 213, while 354 counters were unchanged, 790 untraded and 69 others suspended.
Turnover stood at 3.66 billion shares worth RM1.65 bil.
The FBM KLCI is expected to continue reacting positively as businesses begin gradual resumption coupled with positive signs surrounding the potential treatment for Covid-19.
This was after the US Fed signalled it would continue its nearly zero interest rates for about a year while conducting unlimited quantitative-easing asset buys.
On heavyweight counters, Petronas Chemicals rose 31 sen to RM5.45, Maybank was up 10 sen to RM7.51, Tenaga Nasional added 16 sen to RM12.26 and Public Bank rose 18 sen to RM16.18.
As for the actives, Sapura Energy gained five sen to 8.5 sen, Velesto increased 1.5 sen to 14.5 sen and AirAsia Group added 2.5 sen to 81 sen.
Consumer products and services stocks led the gainers with Dutchlady adding 46 sen to RM47.98, F&N rising RM1.06 to RM32.26 and Nestle leaping RM1.10 to RM140.10.
On the index board, the FBM Emas Index was 145.94 points stronger at 9,783.00, the FBMT 100 Index increased 141.78 points to 9,649.02, the FBM Emas Shariah Index advanced 162.98 points to 10,870.83, the FBM ACE appreciated 129.72 points to 4,831.65 while the FBM 70 earned 191.43 points to 11,725.22.
Sector-wise, the Financial Services Index expanded 156.80 points to 12,414.33, the Industrial Products and Services Index inched up 3.47 point to 118.90 while Plantation Index rose 87.06 points to 6,333.53. — April 30, 2020, Bernama
