Bursa rebounds on positive market sentiment

Bursa rebounds on positive market sentiment

KUALA LUMPUR,. Bursa Malaysia has bounced back from its downtrend last week to open higher this morning, lifted by the positive market sentiment, dealers said.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.36 points to 1,530.84 from Friday’s close of 1,524.48.

It opened 4.56 points firmer at 1,529.04.

MISC and Petronas Chemicals were the biggest contributors to the composite index with a combined total of 2.48 points after the former rose by 17 sen to RM7.00 and the latter added eight sen to RM8.82, respectively.

The overall market breadth on the local bourse was positive with gainers outpacing losers 278 to 124, while 291 counters were unchanged, 1,552 untraded and seven others suspended.

Turnover stood at 210.51 million units worth RM120.45 million.

A dealer said the positive sentiment was fueled by the Prime Minister’s announcement with regards to the long awaited resumption of interstate travels following the rise in the Covid-19 vaccination rate among the adult population in the country.

Datuk Seri Ismail Sabri Yaakob said he was confident that unrestricted interstate travel is fast approaching as the percentage of the fully vaccinated adult population has reached over 86 per cent.

Among the heavyweights, Maybank and Public Bank added one sen each to RM8.06 and RM4.05, respectively, Tenaga chalked up eight sen to RM9.68, CIMB gained three sen to RM4.73, while IHH was flat at RM6.65.

Of the actives, Axteria bagged three sen to 27 sen, CTOS erased 10 sen to RM1.82, while Sapura Energy and Tanco were flat at 10 sen and 24 sen, respectively.

On the index board, the FBM Emas Index increased 45.52 points to 11,269.71, the FBMT 100 Index advanced 42.64 points to 10,949.88, the FBM Emas Shariah Index rose 55.38 points to 12,303.45, the FBM 70 went up 46.98 points to 14,921.52, and the FBM ACE improved 46.2 points to 7,110.62.

Sector-wise, the Industrial Products and Services Index added 1.08 points to 204.01, the Plantation Index bagged 6.93 points to 6,355.01, and the Financial Services Index increased 31.85 points to 15,191.93. — Bernama

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