KUALA LUMPUR: Bursa Malaysia prolonged its features to open above the 1,600-point psychological mark right this moment on bargain looking in mid and small cap shares after a powerful efficiency on Wall Street in a single day.
At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.24 points to 1,601.44 from Monday’s shut of 1,598.20. The benchmark index opened 0.38 of a degree firmer at 1,598.58.
On the broader market, decliners led gainers 342 to 201, with 326 counters unchanged, 1,520 untraded and eight suspended.
Turnover stood at 466.84 million items value RM265.55 million.
Rakuten Trade Sdn Bhd fairness analysis vice-president Thong Pak Leng observed that the every day quantity traded on the native bourse had declined tremendously to under the 4 billion items threshold, however expects this to enhance quickly to maintain the current uptrend.
“We anticipate the index to pattern between the 1,600-1610 vary right this moment as valuation stays affordable among the many blue chips. Meanwhile, crude oil costs have been principally greater with Brent crude closing at US$87 per barrel on heightening geopolitical rigidity and enhancing demand,” he famous.
Malacca Securities stated buyers will probably be monitoring remarks from the US Federal Reserve (Fed) chairman Jerome Powell later right this moment, the Federal Open Market Committee minutes on Wednesday and the US non-farm payrolls knowledge due on Friday. “At this juncture, the Fed has projected for one rate of interest reduce in 2024,” it stated in a notice.
Bursa heavyweight shares Maybank rose three sen to RM10, Public Bank added one sen to RM4.04 and CIMB gained 5 sen to RM6.88. Tenaga Nasional fell 4 sen to RM13.96 whereas IHH Healthcare was flat at RM6.30.
Among essentially the most energetic counters, ACE-debutant UUE Holdings surged 42 sen to 66 sen, Omesti was three sen firmer at 17.5 sen whereas SNS Network and Agmo have been up half-a-sen every to 84.5 sen and 72.5 sen, respectively. JCY was flat at 79 sen.
On the index board, the FBM Emas Index gained 25.16 points to 12,307.61, the FBMT 100 Index elevated 24.52 points to 11,882.87 and the FBM Emas Shariah Index added 21.41 points to 12,646.40.
The FBM 70 Index garnered 38.89 points to 17,972.47 and the FBM ACE Index gained 9.73 points to five,868.69.
Sector-wise, the Financial Services Index improved by 37.71 points to 17,534.22 and the Industrial Products and Services Index edged up 0.60 of-a-point to 197.39. The Energy Index climbed 3.89 points to 974.54 and the Plantation Index bagged 19.46 points to 7,030.82.
