Banks, telcos push FBM KLCI above 1,580 level

BURSA Malaysia’s barometer index ended the day above the 1,580 level, thanks to gains in bank as well as telecommunication counters, positioning it to test the psychological 1,600 resistance soon.

The FTSE Bursa Malaysia KLCI (FBM KLCI) ended at its intra-day high of 1,583.91, by adding 13.09 points compared with 1,570.82 at Monday’s close.

The bellwether index opened 1.52 points better at 1,572.34.

Market breadth was positive as gainers outnumbered decliners 548 to 517, while 456 counters were unchanged, 750 untraded and six others suspended.

Turnover, however, decreased to 5.19 billion units worth RM3.55 bil from 6.9 billion units worth RM3.87 bil on Monday. – Oct 12, 2021

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