Bursa Malaysia Rises on Buying in Utilities and Consumer Stocks
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Bursa Malaysia closed higher at midday, lifted by strong buying interest in selected heavyweight stocks, particularly in the $Bursa Utilities (0065I.MY)$ and $Bursa Consumer Products & Services (0001I.MY)$ sectors. $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ gained 2.30 points, ending at 1,638.04 from Friday’s close of 1,635.74. The market opened stronger, climbing by 4.08 points to 1,639.82 and trading within a range of 1,634.72 to 1,643.95 during the morning session.
Market Breadth and Turnover
Market Breadth and Turnover
Despite the gains in the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$, the broader market reflected mixed sentiment. Losers outnumbered gainers, with 481 declining stocks compared to 415 gainers. 431 counters remained unchanged, 1,198 were untraded, and 17 counters were suspended. The turnover amounted to 1.71 billion units, valued at RM1.17 billion.
Sector and Stock Performance
• Heavyweights:
• $MAYBANK (1155.MY)$: Rose 10 sen to RM10.54.
• $TENAGA (5347.MY)$: Jumped 28 sen to RM14.
• $PBBANK (1295.MY)$: Eased 1 sen to RM4.52.
• $CIMB (1023.MY)$: Declined 6 sen to RM7.83.
• $IHH (5225.MY)$: Fell 2 sen to RM6.31.
• Heavyweights:
• $MAYBANK (1155.MY)$: Rose 10 sen to RM10.54.
• $TENAGA (5347.MY)$: Jumped 28 sen to RM14.
• $PBBANK (1295.MY)$: Eased 1 sen to RM4.52.
• $CIMB (1023.MY)$: Declined 6 sen to RM7.83.
• $IHH (5225.MY)$: Fell 2 sen to RM6.31.
• Active Counters:
• $ELRIDGE (0318.MY)$: Increased 4.5 sen to 45 sen.
• $CEB (5311.MY)$: Edged up by half-a-sen to 38.5 sen.
• $MYEG (0138.MY)$: Gained half-a-sen to 89.5 sen.
• $WCT (9679.MY)$: Advanced 11.5 sen to RM1.07.
• $GENETEC (0104.MY)$: Shed 5 sen to RM1.14.
Index Performance
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Advanced 16.89 points to 12,350.70.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Strengthened by 34.52 points to 12,296.57.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Increased 16.35 points to 12,029.80.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Improved by 22.12 points to 17,736.55.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Slipped 16.97 points to 5,198.72.
Sectoral Indices
• $Bursa Energy (0061I.MY)$: Rose 8.36 points to 929.89, reflecting a rebound in crude oil prices.
• $Bursa Industrial Products & Services (0002I.MY)$: Inched up by 0.71 points to 182.31.
• $Bursa Finance Services (0010I.MY)$: Firmed by 2.36 points to 19,023.02.
• $Bursa Plantation (0025I.MY)$: Decreased by 3.36 points to 7,196.81.
Market Outlook
Market sentiment is supported by optimism surrounding the positive close on Wall Street, with buying interest expected to continue, particularly in the oil and gas, consumer, aviation, construction, building materials, and automotive sectors. The appreciation of the ringgit has also provided a favorable environment for these sectors. However, as the earnings season peaks, some profit-taking and market consolidation are anticipated.
• $ELRIDGE (0318.MY)$: Increased 4.5 sen to 45 sen.
• $CEB (5311.MY)$: Edged up by half-a-sen to 38.5 sen.
• $MYEG (0138.MY)$: Gained half-a-sen to 89.5 sen.
• $WCT (9679.MY)$: Advanced 11.5 sen to RM1.07.
• $GENETEC (0104.MY)$: Shed 5 sen to RM1.14.
Index Performance
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Advanced 16.89 points to 12,350.70.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Strengthened by 34.52 points to 12,296.57.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Increased 16.35 points to 12,029.80.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Improved by 22.12 points to 17,736.55.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Slipped 16.97 points to 5,198.72.
Sectoral Indices
• $Bursa Energy (0061I.MY)$: Rose 8.36 points to 929.89, reflecting a rebound in crude oil prices.
• $Bursa Industrial Products & Services (0002I.MY)$: Inched up by 0.71 points to 182.31.
• $Bursa Finance Services (0010I.MY)$: Firmed by 2.36 points to 19,023.02.
• $Bursa Plantation (0025I.MY)$: Decreased by 3.36 points to 7,196.81.
Market Outlook
Market sentiment is supported by optimism surrounding the positive close on Wall Street, with buying interest expected to continue, particularly in the oil and gas, consumer, aviation, construction, building materials, and automotive sectors. The appreciation of the ringgit has also provided a favorable environment for these sectors. However, as the earnings season peaks, some profit-taking and market consolidation are anticipated.
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