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Bursa slightly higher in early trade on buying interest

bursa-slightly-higher-in-early-trade-on-buying-interest

KUALA LUMPUR,. Bursa Malaysia was slightly higher in early session today, driven by mild buying interest after finishing in the red on Monday, in line with the weaker regional market sentiment, dealers said.

At 9.16am, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 0.47 of-a-point or 0.03 per cent to 1,543.0 from Monday’s close of 1,542.53.

The benchmark index opened 5.31 points higher at 1,547.84.

On the broader market, gainers led losers 194 to 183, while 270 counters were unchanged, 1,652 untraded, and 11 others suspended.

Turnover stood at 380.12 million units worth RM144.54 million.

Malacca Securities Sdn Bhd, in a research note today, said investors are likely to trade cautiously at the start of the trading session, prior to the release of Malaysia’s inflation rate tomorrow.

“Nevertheless, we believe bargain-hunting activities could kick in as concerns over inflation may have priced in and traders may focus in the recovery-themed sectors. Also, we believe buying interest may emerge in technology stocks in line with the rebound on Wall Street.

“Commodity-wise, the crude oil price hovered around US$113 per barrel mark, while crude palm oil (CPO) is trading around RM6,200 per tonne,” it said.

Among the heavyweights, Maybank and Petronas Chemicals were flat at RM8.98 and RM9.99, respectively, Public Bank added 1.0 sen to RM4.55, while IHH Healthcare slipped 2.0 sen to RM6.53 and TNB fell 1.0 sen to RM9.19.

Of the actives, Green Packet, Cnergenz, M N C Wireless and Sapura Energy earned half-a-sen each to 10 sen, 58.5 sen, 2.0 sen and 9.0 sen, respectively.

On the index board, the FBM ACE gained 18.15 points to 5,294.23, the FBM Emas Shariah Index rose 3.73 points to 11,468.30, the FBM Emas Index improved 5.17 points to 11,047.75, the FBMT 100 Index bagged 5.34 points to 10,710.30, and the FBM 70 strengthened 15.15 points to 13,218.89.

Sector-wise, the Industrial Products and Services Index was 0.12 of-a-point higher at 199.70, the Financial Services Index advanced 4.34 points to 16,559.29, and the Plantation Index advanced 22.34 points to 8,063.45. — Bernama

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