Bursa Malaysia ends morning session higher on strong buying interest

TheEdge Fri, Apr 01, 2022 12:50pm - 2 years View Original


KUALA LUMPUR (April 1): Bursa Malaysia ended the morning trading session firmer as buying interest intensified in financial, healthcare and consumer products and services counters.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved 6.36 points to 1,593.72 from 1,587.36 at Thursday's close.

The barometer index opened 0.93 of-a-point higher at 1,588.29, and moved between 1,582.09 and 1,595.66 throughout the morning session.

On the broader market, gainers edged past losers 418 to 414, while 381 counters were unchanged, 1,023 untraded and 35 others suspended.

Total turnover stood at 1.71 billion worth RM984.55 million.

Malacca Securities Sdn Bhd said the FBM KLCI is outperforming its regional peers on the back of improving sentiments due to the reopening of travel borders.

“However, uncertainties remained on the global front as Russia has threatened to terminate gas supply contracts and the tension between Ukraine and Russia still prevails.

“Selected oil and gas stock may see a pullback following the United States’ decision to release its oil reserve,” it said in a research note on Friday.

Back home, the brokerage said airport, aviation, tourism, consumer and banking stocks may be on the uptrend following the border reopening.

Among the heavyweights, Malayan Banking Bhd was flat at RM8.94, Public Bank Bhd added eight sen to RM4.75, Petronas Chemicals Group Bhd increased four sen to RM9.64 and IHH Healthcare Bhd gained five sen to RM6.25, while CIMB Group Holdings Bhd fell one sen to RM5.32.

Of the actives, Pappajack Bhd increased eight sen to 38 sen, both Metronic Global Bhd and TWL Holdings Bhd were half-a-sen higher at 2.5 sen and 7.5 sen, respectively, and Vortex Consolidated Bhd rose 1.5 sen to 10 sen, while Vinvest Capital Holdings Bhd eased one sen to 22.5 sen.

On the index board, FBM 70 went up 5.58 points to 13,859.05, FBMT 100 Index bagged 35.65 points to 11,101.76, FBM Emas Index recovered 33.2 points to 11,420.52 and FBM Emas Shariah Index rose 27.13 points to 11,970.48, while FBM ACE shed 12.19 points to 5,606.63.

Sector-wise, the Industrial Products and Services Index eased 0.31 of-a-point to 205.13, the Plantation Index reduced by 20.42 points to 7,932.56 and the Financial Services Index advanced 81.4 points to 16,859.99.

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