FBM KLCI ends higher on a rebound, up 10.99 Points

KUALA LUMPUR: The local benchmark index on Bursa Malaysia ended higher on a rebound lifted by heavyweights led by Tenaga.

At 5 pm yesterday, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 10.99 points better at 1,732.76, after moving between 1,720.84 and 1,735.90 throughout the day. Gainers led losers 561 to 238, with 306 counters unchanged, 717 counters untraded and 13 others were suspended.

Total volume decreased to 1.54 billion units, worth RM1.82 billion, from Friday’s 1.72 billion units worth RM2.42 billion.

HLIB Research said the index was implying an oversold rebound as sentiment improved driven by Federal Reserve’s pledge to support the US economy even as growth picked up coupled with Tenaga Nasional ’s statement that the proposed acquisition of Project 3B was not a bailout. A dealer said, most Southeast stock markets also rose on Monday amid hopes about Greek’s debt deal after it came out with a last minute proposal to appease creditors.

Among the leading movers were Tenaga Nasional which rose 24 sen to RM13.10, IHH Healthcare added 10 sen to RM5.80, Petronas Chemicals gained eight sen to RM6.09, CIMB improved seven sen to RM5.60 and RHB Capital advanced 17 sen to RM7.28.

Of actives, Frontken perked one sen to 28 sen, K-One added four sen to 32 sen, Privasia Technology advanced 3.5 sen to 31 sen, AirAsia rose three sen to RM1.64 and IFCA MSC gained 12 sen to RM1.37 sen.

On the scoreboard, the FBM Emas Index was 72.24 points higher at 11,979.05, FBMT100 Index added 70.84 points to 11,667.62, FBM Emas Syariah was up 81.50 points at 12,458.26, the FBM Ace jumped 288.13 points to 6,588.16 but the FBM 70 fell 67.52 points to 13,083.18.

On a sectoral basis, the Finance Index added 65.03 points to 15,657.98, the Industrial Index added 8.39 points to 3,169.28 and the Plantation Index rose 4.47 points to 7,307.75.

Main Market volume fell to 855.35 million shares, worth RM1.62 billion, from 1.1 billion shares, worth RM2.23 billion, recorded on Friday.

Turnover on the ACE Market increased to 557.89 million units, valued at RM181.43 million, from 447.26 million units valued at RM141.14 million.

Warrants depreciated to 124.34 million shares, worth RM21.44 million, from 172.31 million shares worth RM50.10 million.

Consumer products accounted for 55.97 million shares traded on the main market, industrial products (184.27 million), construction (37.39 million), trade and services (415.10 million), technology (45.10 million), infrastructure (10.68 million), SPAC (6.49 million), finance (30.04 million), hotels (33.35 million), properties (45.38 million), plantations (8.44 million), mining (10,000), REITS (13.13 million) and closed/fund (1,900).