Bursa ends slightly higher

  • Markets
  • Tuesday, 16 Nov 2021

KUALA LUMPUR: Bursa Malaysia ended the day marginally higher on bargain hunting in selected heavyweights led by Nestle (M) Bhd, PPB Group Bhd and Telekom Malaysia Bhd (TM).

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.55 of-a-point to 1,522.89 after moving between 1,518.93 and 1,528.10 in the course of the day.

Nestle rose 20 sen to RM133.30, PPB advanced 18 sen to RM17.38 and TM bagged 10 sen to RM5.70, and together they contributed 1.21 points to the barometer index.

The index opened 0.87 of-a-point easier at 1,521.47 compared with Monday’s close of 1,522.34.

The broader market remained negative at the close with decliners outpacing gainers 542 to 392, while 451 counters were unchanged, 931 untraded and 45 others suspended.

Turnover fell to 3.15 billion shares worth RM2.26 billion from yesterday’s 3.48 billion shares worth RM2.33 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI rebounded after hitting an intraday low of 1,518.93 when buying activities emerged and ended flat after a tight range-bound trading session.

"Key regional markets closed higher as investors reacted positively to news of the leaders of the United States and China being in a virtual summit.

"Back home, the FBM KLCI seems to be quite well supported at 1,520 level; hence we reckon accumulation of stocks to persist on dips,” he told Bernama.

He said at present valuations, bargain hunting activities were expected to emerge and the FBM KLCI was anticipated to hover in the 1,525-1,540 range for the rest of the week.

Among the heavyweights, Maybank fell one sen to RM8.09, Public Bank added one sen to RM4.02, Petronas Chemicals gained two sen to RM8.31, and Tenaga was flat at RM9.59.

Of the actives, PDZ was one sen lower at 7.5 sen and KNM eased 1.5 sen to 17 sen, but Brahims increased three sen to 22 sen.

Among the top gainers, Mytech rose 73 sen to RM6.58, BSL perked 46 sen to RM2.02 and Yinson improved 25 sen to RM6,00.

The top losers were Rapid Synergy which slid 75 sen to RM9.21, Tafi Industries which shed 70 sen to RM3.03, and Carzo which lost 69 sen to RM2.87.

On the index board, the FBM Emas Index retreated 8.28 points to 11,263.47, the FBMT 100 Index fell 3.0 points to 10,902.78, and the FBM Emas Shariah Index decreased 10.38 points to 12,266.49.

The FBM ACE erased 116.64 points to 6,858.23 and the FBM 70 dropped 31.30 points to 14,895.31.

Sector-wise, the Industrial Products and Services Index edged up 0.11 of-a-point to 200.05 while the Plantation Index declined 34.28 points to 6,521.36 and the Financial Services Index was 1.81 points lower at 15,153.99. - Bernama

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