Business

Bursa higher, lifted by bargain hunting

bursa malaysia

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Oct 29 2018 : Shares on Bursa Malaysia were higher in the early session today, denying major economy trends and lifted by bargain hunting activities, following last week losses.

At 9.07 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.07 points better at 1,685.13 from last Friday’s close of 1,683.06.

The index opened 0.51 of-a-point lower at 1,682.55.

Public Investment Bank Bhd said in a note that US markets saw another tumultuous day, with all three benchmarks ending the day in the red again.

“The Dow Jones Industrial Average was down 1.2 per cent for the day, off intra-day lows of just over two per cent. The S&P 500 and Nasdaq Composite sank 1.7 per cent and 2.1 per cent respectively,” it said.

On the broader market on Bursa Malaysia, gainers led losers 115 to 86 with 153 unchanged, 1,546 counters untraded and 91 others suspended.

Volume stood at 119.72 million units valued at RM51.25 million.

Among heavyweights, Maybank and Petronas Chemicals were flat at RM9.44 and RM9.29 respectively, while Tenaga rose six sen to RM14.10, CIMB improved one sen to RM5.28 and Public Bank declined six sen to RM24.56.

For actives, Seacera gained 2.5 sen to 18 sen, as Pesona Metro and Dagang Nexchange advanced one sen each to 25.5 sen and 15 sen respectively.

Meanwhile, Orion IXL, Nova MSC and Hubline were unchanged at 10 sen, 13.5 sen and 4.5 sen respectively.

The FBM Emas Shariah Index increased 18.58 points to 11,563.95, the FBM Ace Index increased 23.08 points to 4,798.13 and the FBM 70 was up 4.18 points to 13,294.92.

The FBM Emas Index strengthened 12.12 points to 11,603.23 and the FBMT 100 Index gained 11.67 points to 11,458.89.

Sector-wise, the Plantation Index declined 2.06 points to 7,322.28, the Industrial Products and Services Index was 0.08 of-a-point weaker at 168.26, and the Financial Services Index lost 20.1 points to 17,124.76. – Bernama

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News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.