A RALLY in plantation stock, SD Guthrie, propelled by a jump in crude palm oil (CPO) price to a fresh 28-month high today, lifted Bursa Malaysia’s barometer index to breach above the key psychological support level of 1,600 on Friday.
However, selling pressure was evident in banking stocks, limiting the overall index gains, with the FTSE Bursa Malaysia KLCI (FBM KLCI) ending the day 2.1 points higher at 1,603.98 from Wednesday’s close of 1,601.88.
The index had opened 10.82 points lower at 1,591.06 and subsequently moved between 1,589.27 and 1,607.04 throughout the day.
Across the broader market, decliners outpaced gainers 538 to 422 while 482 counters were unchanged, 933 untraded and 30 suspended.
Today’s turnover dwindled to 2.14 billion units valued at RM2.44 bil versus 2.52 billion units valued at RM2.96 bil on Wednesday. – Nov 1, 2024
