O&G and gold stocks in the limelight on Bursa

TheStar Wed, Aug 12, 2020 07:40am - 3 years View Original

Dominating nearly 28% of the bourse’s total trading volume of 27.8 billion shares, the Energy Index has unseated the Technology Index as the biggest contributor to volume of shares traded. The 14.5 sen Sapura Energy Bhd alone, which was the most active stock on the stock exchange, contributed 4.13 billion in volume.

PETALING JAYA: Stocks related to two key commodities stole the limelight on Bursa Malaysia yesterday as the market hit yet another all-time-high daily trading volume on retail investor-fuelled liquidity.

After trading sideways for the past several weeks, the rise in Brent grade crude oil price to above US$45 per barrel led investors to scoop oil and gas (O&G)-related counters, underpinned by hopes of continued recovery in the “black gold” prices.

The Energy Index of Bursa Malaysia surged by over 12% in a single day, with a trading volume of 7.67 billion.

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