KUALA LUMPUR: Bursa Malaysia’s benchmark index extended its gains at midday, holding above the 1,700 level, on sustained buying interest in selected heavyweight stocks despite mixed performances in regional markets.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.97 points, or 0.18 per cent, to 1,702.03 from Tuesday’s close of 1,699.06.
The barometer index had opened 4.25 points lower at 1,694.81 and fluctuated between 1,693.95 and 1,703.30 during the morning session.
Market breadth remained negative, with losers outnumbering gainers 442 to 416, while 534 counters were unchanged, 1,292 counters untraded, and 10 suspended.
Total market turnover stood at 1.64 billion units, valued at RM1.20 billion.
Malacca Securities Sdn Bhd said that in view of Wall Street’s lacklustre overnight performance, the local
bourse is expected to follow suit.
"However, we remain positive that a ‘pick-and-shovel’ play is emerging within data centre value chains.
"Substations, along with underground and overhead utilities, are in the spotlight as project pipelines remain healthy -- a fact reflected by MN Holdings Bhd
’s recent project wins,” it said in a note today.
Among heavyweights, Maybank rose four sen to RM11.10, Public Bank and IHH gained one sen each to RM4.73 and RM8.42, respectively, and CIMB added three sen to RM8.20, while Tenaga Nasional was flat at RM13.80.
On the actively traded list, Velesto and Tanco bagged one sen each to 29 sen and RM1.29, respectively, while SBS Nexus, SMRT and MMAG were flat at 24 sen, 19 sen, and five sen, respectively.
Leading gainers included Malaysian Pacific, Fraser & Neave and Dutch Lady, up 44 sen each to RM34.00, RM36.16 and RM31.72, respectively. Hong Leong Financial advanced 34 sen to RM20.62, and Petronas Gas advanced 32 sen to RM18.74.
As for the top decliners, United Plantations weakened 56 sen to RM30.50, Nestle slipped 50 sen to RM115.50, KL Kepong and Batu Kawan lost 18 sen each to RM20.02 and RM20.12, respectively, and Malayan Cement shaved 16 sen to RM7.40.
On the broader market, the FBM Emas Index gained 14.46 points to 12,529.66, the FBM Top 100 Index added 13.22 points to 12,325.77, and the FBM ACE Index rose 16.04 points to 4,897.28, while the FBM Emas Shariah Index improved 12.49 points to 12,205.20, and the FBM Mid 70 Index eased 18.85 points to 17,378.98.
Sector-wise, the Financial Services Index widened 70.55 points to 20,515.11, the Energy Index fell 3.34 points to 767.49, the Industrial Products and Services Index edged up 0.11 of-a-point to 173.39, and the Plantation Index shed 10.21 points to 8,320.88. - Bernama
