Bursa Malaysia extends positive momentum across the board at mid-morning

28-Mar-2020 Intellasia | Malay Mail | 6:02 AM Print This Post

Bursa Malaysia chalked up positive gains across its indexes at mid-morning backed by high buying interest ahead of today’s stimulus package announcement.

At 11am, key index FTSE Bursa Malaysia KLCI (FBM KLCI) gained 16.85 points to 1,344.94 from yesterday’s close of 1,324.50.

On the broader market, gainers trumped losers 621 to 153, with 238 counters unchanged, 998 untraded and 31 others suspended.

Turnover amounted to 1.41 billion shares worth RM693.61 million.

Prime minister Tan Sri Muhyiddin Yassin is expected to announce the stimulus package at 3 pm today, which is expected to address wider issues faced by businesses as well as individuals during these challenging times, brought about by the Covid-19 outbreak.

On the heavyweight performance, 24 out of 30 counters recorded gains with financial counters leading the pack with Maybank climbed 11 sen to RM7.38, Public Bank added 32 sen to RM15.86 and CIMB Group rose six sen to RM3.56.

On the index point, Financial Services was up 1.59 per cent or 193.52 points to 12,296.97.

As for top gainers, consumer products and services stocks continued to dominate the chart with Nestle gaining RM1.60 to RM138.60, Panasonic Manufacturing adding RM1.30 to RM26.10 while sin counters Heineken and Carlsberg both shoot up 66 sen and 54 sen respectively to RM22.56 and RM25.74 respectively.

Overall index performance was in blue, with the FBM Emas Index surging 148.14 points to 9,212.59 while the FBM 70 gained 294.31 points to 10,622.87 and the FBM Emas Shariah Index garnered 156.42 points to 10,060.797.

The FBMT 100 Index increased 144.67points to 9,148.33 and the FBM Ace rose 94.12 points to 3,773.54.

Sector-wise, the Industrial Products and Services Index added 1.90 points to 104.46, and the Plantation Index added 48.41 points to 6,104.48.



Category: Malaysia

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