FBM KLCI rebounds to end higher but market breadth stays negative


KUALA LUMPUR: Bursa Malaysia’s benchmark index ended 1.27 per cent firmer at present as traders’ optimism was uplifted by Bank Negara Malaysia’s (BNM) transfer to keep the Overnight Policy Rate (OPR), a seller mentioned.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) strengthened 20.44 factors to 1,618.54 from 1,598.10 at yesterday’s shut.

The barometer index, which opened 10.59 factors higher at 1,608.69, moved between 1,600.18 and 1,618.54 all through the buying and selling session.

However, on the broader market, losers thumped gainers 530 to 433, whereas 408 counters had been unchanged, 869 untraded, and 10 others suspended.

Turnover improved to 3.43 billion items valued at RM3.76 billion from Wednesday’s 3.23 billion items valued at RM3.68 billion.

The central financial institution at present determined to keep the OPR at 1.75 per cent at its second Monetary Policy Committee (MPC) assembly of the yr, noting that the general restoration trajectory remained on observe regardless of the latest moderation in financial exercise due to the Omicron-driven COVID-19 resurgences.

Rakuten Trade Sdn Bhd vice-president of fairness analysis Thong Pak Leng mentioned the upward trajectory was additionally boosted by shopping for assist on chosen heavyweights similar to banking, plantation and oil and gasoline shares.

Regionally, he mentioned key indices closed largely higher following in a single day constructive efficiency on Wall Street, whereas traders had been optimistic amid ongoing talks to diffuse the Russia-Ukraine disaster.

“On the home entrance, the efficiency of the native bourse ought to stay regular as overseas funds proceed to accumulate on native equities, though we don’t low cost the opportunity of intermittent correction,” he informed Bernama.

As such, he mentioned, the FBM KLCI was anticipated to development range-bound, hovering inside the 1,610-1,625 vary in the direction of the weekend.

Among the heavyweights, Maybank gained 18 sen to RM9.12, Public Bank added two sen to RM4.43, Petronas Chemicals improved 23 sen to RM10.0, IHH Healthcare rose one sen to RM6.57 and Press Metal ticked up 15 sen to RM7.22.

Of the actives, Dagang Nexchange shed six sen to RM1.08 and V.S Industry slid 14 sen to 96 sen, whereas Hibiscus Petroleum expanded eight sen to RM1.30.

On the index board, FBM ACE dipped 77.30 factors to 5,676.59, FBM 70 diminished 27.04 factors to 13,438.10, FBM Emas Index rose 105.20 factors to 11,477.67, FBMT 100 Index gained 106.00 factors to 11,154.74, and FBM Emas Shariah Index lifted 101.08 factors to 12,241.65.

Sector-wise, the Financial Services Index bagged 153.91 factors to 16,507.48, the Industrial Products and Services Index was 1.96 factors firmer at 214.32, and the Plantation Index climbed 172.55 factors to 8,782.59.

The Main Market quantity perked to 2.55 billion shares price RM3.53 billion from 2.31 billion shares price RM3.47 billion on Wednesday.

Warrants turnover fell to 326.85 million items price RM37.66 million in contrast with 362.36 million items price RM47.14 million yesterday.

The ACE Market quantity narrowed to 547.28 million shares valued at RM186.60 million versus 554.21 million shares valued at RM168.42 million beforehand.

Consumer services and products counters accounted for 365.37 million shares traded on the Main Market, industrial services and products (745.66 million), building (83.06 million), expertise (340.93 million), SPAC (nil), monetary companies (106.87 million), property (136.92 million), plantation (241.59 million), REITs (8.02 million), closed/fund (16,100), power (389.95 million), healthcare (39.69 million), telecommunications and media (29.71 million), transportation and logistics (36.56 million), and utilities (31.27 million). – Bernama

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