Bursa slightly higher at midday

TheEdge Thu, Feb 08, 2024 01:05pm - 2 months View Original

KUALA LUMPUR (Feb 8): Bursa Malaysia ended Thursday's morning trading session slightly higher amid quiet trading ahead of the Chinese New Year long weekend.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.55 points to 1,515.66 from Wednesday’s close of 1,513.11.

The barometer index, which opened 0.08 of-a-point higher at 1,513.19, moved between 1,513.19 and 1,521.18 during the session.

Market breadth was positive with gainers outpacing decliners 412 to 335, while 420 counters were unchanged, 1,121 untraded and 10 others suspended.

Turnover amounted to 1.60 billion units worth RM885.79 million.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that the daily volume traded has shrunk to previous levels, averaging at around three billion shares, thus depicting the lack of trading interests, especially from the retailers.

“However, as buying from foreign funds continues, this hopefully will cascade down to the smaller cap stocks. For today, we expect the benchmark index to hover within the 1,510-1,520 range,” he told Bernama.

Among the heavyweights, CIMB Group Holdings Bhd appreciated six sen to RM6.26 and Petronas Chemicals Group Bhd was up by three sen to RM6.71. Public Bank Bhd stood at RM4.39, followed by Press Metal Aluminium Holdings Bhd at RM4.64 and Tenaga Nasional Bhd at RM10.82, as all three counters were flat. Meanwhile, Malayan Banking Bhd slid one sen to RM9.28 and IHH Healthcare Bhd dipped one sen to RM6.13.

As for the actives, Sarawak Cable Bhd added half-a-sen to 13 sen and Reneuco Bhd was one sen higher at six sen, while Pegasus Heights Bhd was flat at half-a-sen, UCrest Bhd eased one sen to 12 sen and Handal Energy Bhd declined one sen to eight sen.

On the index board, the FBM Emas Index was 23.04 points higher at 11,247.02, and the FBMT 100 Index appreciated 20.94 points to 10,913.14.

The FBM ACE Index increased by 18.34 points to 4,739.94, the FBM Emas Shariah Index improved by 24.95 points to 11,265.06, and the FBM 70 Index advanced by 39.87 points to 15,157.70.

Sector-wise, the Plantation Index went up 23.78 points to 7,191.06, and the Financial Services Index gained 18.72 points to 16,966.79.  

The Industrial Products and Services Index inched up 0.53 of-a-point to 172.27, the Property Index added 2.36 points to 901.78, and the Energy Index gained 7.83 points to 880.79.

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