Bursa ends higher on the back of improved market sentiment

BURSA Malaysia closed higher Tuesday, in tandem with the recovery in the global equities on the back of improved market sentiment, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.78 points to finish the day at 1,574.02 from Monday’s close of 1,572.24.

The market bellwether, which opened 0.68 of-a-point easier at 1,571.56 today, fluctuated between 1,571.21 and 1,577.57 throughout the day.

The overall market breadth was positive with gainers leading losers 528 to 481, while 468 counters were unchanged, 726 untraded and 12 others suspended.

Turnover decreased further to 5.9 billion units worth RM3.08 bil today, from 6.04 billion units valued at RM2.8 bil on Monday.

Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the FBM KLCI closed 0.11% higher today with Digi leading gainers among the 30-index constituents with a 2.3% advance as investors remained upbeat on the Celcom-Digi merger.

This made the Bursa Malaysia Telecommunication and Media index as the biggest gainer of 2.3%, he said.

“Overall sentiment was also supported by the decline in daily COVID-19 cases in Malaysia, which dropped to 4,743 cases, while the number of vaccination doses administered on June 21 reached 235,623 doses.

“Investors also took the opportunity to do some bargain hunting after taking the cue from the Dow Jones Index which ended higher overnight as investors piled back in to the energy and other sectors, which were expected to outperform as the economy rebounds from the pandemic,” he told Bernama.

Among the heavyweights, Malayan Banking Bhd (Maybank) and Public Bank Bhd bagged two sen each to RM8.20 and RM4.20 respectively, Petronas Chemicals Group Bhd gained three sen to RM7.98, Tenaga Nasional Bhd (TNB) earned four sen to RM10.04, CIMB Group Holdings Bhd added one sen to RM4.60 while IHH Healthcare Bhd slipped one sen to RM5.75. 

Of the actives, Serba Dinamik Holdings Bhd perked up 2.5 sen to 62.5 sen, both VSolar Group Bhd and Fintec Global Bhd were flat at 1.5 sen and 3.5 sen respectively, while MMAG Holdings Bhd shed two sen to 16 sen. – June 22, 2021

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