LAST-MINUTE buying in consumer product and healthcare counters pushed Bursa Malaysia back into positive territory at the close today, in line with recovering Asian stock markets, dealers said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) earned 0.16 of a point to 1,381.89 from 1,381.73 at yesterday’s close.
The barometer index, which had opened 15.33 points lower at 1,366.40 points, hovered between 1,359.54 and 1,383.09 during the day.
The overall market breadth remained bearish with losers thumping gainers 827 to 198, while 253 counters were unchanged, 634 untraded and 20 others suspended.
Turnover decreased to 5.10 billion shares worth RM2.85 bil from 6.53 billion shares worth RM2.94 bil yesterday.
A dealer said Asian stock markets turned mixed, as investors seemed to shrug off progress of a fresh relief package to counter the economic hit from the Covid-19 pandemic, with most major Asian markets staging a rebound.
The White House and congressional leaders were reported to have struck a deal for a new US$484 bil pandemic relief plan with funds for a tapped-out small business aid programme and aid for Covid-19 testing and overwhelmed hospitals.
Meanwhile, oil prices came under renewed pressure today following a historic two-day price plunge, as markets struggled with an enormous glut amid the pandemic.
Brent crude, which settled down 24% in the previous session, was 14.5% lower at US$16.53 per barrel after rising more than US$1 earlier.
Among the heavyweights on Busa, Maybank slipped six sen to RM7.50, Public Bank went down two sen to RM15.72, IHH Healthcare declined one sen to RM5.12, while TNB was flat at RM12.50 and Petronas Chemicals rose nine sen to RM5.39.
Of the actives, Lambo added one sen to eight sen, Hibiscus Petroleum earned half-a-sen to 43 sen, while Velesto eased half-a-sen to 14.5 sen.
On the index board, the FBM Emas Index was 10.72 points better at 9,609.25, the FBMT 100 Index increased 7.18 points to 9,490.13, the FBM Emas Shariah Index gained 35.42 points to 10,638.72, the FBM ACE advanced 38.12 points to 4,352.82, and the FBM 70 garnered 33.77 points to 11,397.25.
Sector-wise, the Financial Services Index shed 89.94 points to 12,364.10, the Industrial Products and Services Index edged up 0.96 of-a-point to 117.01 and the Plantation Index lost 44.81 points to 6,137.58.
Main Market volume decreased to 3.68 billion shares worth RM2.56 bil from 4.60 billion shares valued at RM2.69 bil on Tuesday.
Warrants turnover narrowed to 390.90 million units worth RM95.74 mil from yesterday’s 454.49 million units worth RM97.31 mil.
Volume on the ACE Market slipped to 1.02 billion shares worth RM200.73 mil from 1.47 billion shares worth RM149.46 mil previously.
Consumer products and services accounted for 956.18 million shares traded on the Main Market, industrial products and services (673.88 million), construction (335.50 million), technology (256.92 million), SPAC (nil), financial services (85.85 million), property (177.52 million), plantations (55.32 million), REITs (14.92 million), closed/fund (500), energy (791.24 million), healthcare (83.32 million), telecommunications and media (76.98 million), transportation and logistics (153.49 million), and utilities (22.04 million). — April 22, 2020, Bernama
