BURSA Malaysia was mixed today as its key index closed higher on buying support among the heavyweights, led by Press Metal, while the broader market showed a negative trend.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.97 points to end the week at 1,559.68 from Thursday’s close of 1,555.71.
The market bellwether, which opened 0.45 of-a-point better at 1,556.16, fluctuated between 1,556.16 and 1,563.47 throughout the day’s session.
Press Metal gained 17 sen to RM4.88 with 10.09 million shares changing hands, lifting the composite index by a substantial 2.525 points.
However, the broader market saw losers outpacing gainers 657 to 344, while 441 counters were unchanged, 787 untraded and 37 others suspended.
Turnover increased to 5.41 billion units valued at RM2.56 bil today, from 5.21 billion units worth RM3.03 bil yesterday.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the FBM KLCI closed 0.3 per cent higher as investors did some bottom-fishing after the drop seen on the previous day.
The daily gain on Bursa was also in conformity with the rise in other regional markets such as the Philippines, Japan, Hong Kong, Jakarta and Taiwan.
“Overall optimism in markets came from Joe Biden’s move to embrace a bipartisan Senate infrastructure deal which could propel economic growth.
“On further scrutiny, gains on the FBM KLCI was contributed mainly by oil and gas counters such as Petronas Dagangan and Dialog, which ended 3.5% and 1.1% higher during the day respectively as Brent crude oil price hovered around US$75 per barrel,” he told Bernama.
Among the heavyweights, Public Bank added one sen to RM4.19, Tenaga gained three sen to RM9.90, IHH rose four sen to RM5.65 while PetChem was flat at RM8.
Maybank and CIMB slipped one sen each to RM8.19 and RM4.69 respectively.
Of the actives, MMAG shed two sen to 14.5 sen, Serba Dinamik fell 12.5 sen to 41 sen, Sanichi eased 1.5 sen to four sen, Focus Dynamics inched up half-a-sen to 4.5 sen while KNM was flat at 16.5 sen. – June 25, 2021
