OIL and gas (O&G) related and technology counters dominate the top 20 active counters on Bursa Malaysia today, following the rise in oil prices and demand for digitisation.
Benchmark Brent Crude rose by 2.19% to US$29.93, which directly benefited O&G counters.
As at 11.50am, Sapura Energy added half-a-sen to 7.5 sen, Hibiscus Petroleum gained 2.5 sen to 31 sen, Perdana Petroleum and Velesto both rose one sen to 13 sen and 11 sen respectively, while Dayang added 9.5 sen to 89 sen.
Altogether, the counters saw a total of 150.82 million shares changing hands.
Meanwhile, the technology index was up 5.14% to 25.78 points after suffering a decline of close to 8% yesterday.
An analyst said that being small- or medium-cap stocks, technology-related counters are the most volatile, adding that the stocks would rebound in no time amid rising digitisation demand.
Vortex Consolidation and Sanichi were flat at 2.5 sen and 4.5 sen respectively, with a total of 132.21 million shares transacted. — March 24, 2020, Bernama
