Bursa broadly higher due to positive sentiment

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Written by Syndicated News

KUALA LUMPUR, Jan 17 2019 : Bursa Malaysia was broadly higher in early trade today, boosted by positive market sentiment, with strong buying seen in the index-linked counters.

At 9.04 am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) was 8.14 points firmer at 1,681.22 from yesterday’s close of 1,673.08 after opening seven points better at 1,680.21.

Gains in IHH Healthcare lifted the composite index by 1.23 points in rising eight sen to RM5.78 with 10,500 shares changing hands.

In line with an uptrend on regional peers, sentiment on Bursa was fuelled by gains in the overnight performance of Wall Street, with investors upbeat on the corporate earnings session after several banks reported better-than-expected quarterly results.

In a note, Maybank IB Research said the FBM KLCI is expected to range between 1,660 and 1,690 today with the downside supports located at 1,658 and 1,644.

Overall market breadth was bullish with gainers outnumbering losers 171 to 57, while 131 counters were unchanged, 1,521 untraded and 25 others suspended.

Turnover amounted to 112.33 million shares worth RM51.81 million. 

Among heavyweights, Public Bank rose six sen to RM24.76, Tenaga bagged eight sen to RM13.66, Petronas Chemicals perked four sen to RM8.32, while Maybank and CIMB were flat at RM9.42 and RM5.65.

Of actives, MyEG edged up four sen to RM1.12, Bumi Armada added one sen to 16.5 sen, while Seacera and Borneo Oil lost 2.5 sen and half-a-sen to 21.5 sen and 4.5 sen respectively.

The FBM Emas Index was 56.04 points firmer at 11,636.93, the FBMT 100 Index increased 61.34 points to 11,523.41, the FBM Emas Shariah Index advanced 72.09 points to 11,568.36, the FBM 70 surged 96.39 points to 13,766.65 and the FBM Ace Index gained 16.13 points to 4,490.32.

Sector-wise, the Finance Index bagged 26.84 points to 17,428.59, the Plantation Index rose 56.22 points to 7,206.82, and the Industrial Products and Services Index added 0.43 of-a-point to 161.4. – Bernama



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