KUALA LUMPUR – The key index ended the day higher on the back of the extended recovery in glove stocks, despite the weak broader market that was in line with regional peers.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.32 points or 0.29% to close at 1,500.8 compared with Wednesday’s close of 1,496.48.
The index opened easier by 1.76 point at 1,494.72, and moved between 1,492.98 and 1,506.6 throughout the day.
On the broader market, losers outpaced gainers 578 to 451, while 428 counters were unchanged, 632 untraded and 29 others suspended.
Total volume eased to 5.90 billion shares worth RM4.56 billion from Wednesday’s 8.45 billion shares worth RM4.32 billion.
The recovery in glove stocks helped to offset the losses on the market, which was broadly negative since global markets continued to shed weight as fears intensified over the next wave of Covid-19 infections and the stalled US economic recovery.
Index-linked glove manufacturers Top Glove surged 53 sen to RM8.55, Hartalega jumped RM1.40 to RM15.90, Supermax soared 58 sen to RM8.41 while Kossan Rubber strengthened RM1.10 to RM13.
Other heavyweights such as Sime Darby Plantation and Hong Leong Bank were flat at RM5.05 and RM14.90, respectively, while both Maybank and TNB declined eight sen to RM7.09 and RM10.82, respectively, Public Bank eased 12 sen to RM15.52 and IHH Healthcare trimmed one sen to RM5.25.
Of the actives, Metronic edged up half-a-sen to 8.5 sen, HLT Global was 14 sen higher at RM1.67, VSolar was flat at four sen, Advance Synergy shed two sen to 17 sen, MNC Wireless inched down half-a-sen to 4.5 sen and Kanger International fell 2.5 sen to 23.5 sen.
On the index board, the FBM Emas Index increased 35.51 points to 10,769.5 and the FBM Emas Shariah Index was 99.8 points higher at 12,830.02.
The FBM 70 widened 71.1 points to 13,918.02, the FBMT100 Index went up 36.45 points to 10,562.64 and the FBM ACE shaved off 417.59 points to 10,368.91.
Sector-wise, the Financial Services Index depreciated 111.70 points to 12,335.44, the Plantation Index gave up 15.5 points to 7,071.75 and the Industrial Products and Services Index inched down 1.34 point to 132.2.
Main Market volume fell to 2.88 billion shares worth RM3.18 billion from 4.62 billion shares worth RM3.09 billion on Wednesday.
Warrants turnover rose to 769.05 million units worth RM226.25 million from 637.77 million units worth RM162.20 million yesterday.
Volume on the ACE Market eased to 2.25 billion shares worth RM1.15 billion from 3.19 billion shares worth RM1.07 billion previously.
Consumer products and services accounted for 852.04 billion shares traded on the Main Market, industrial products and services (818.47 billion), construction (183.95 million), technology (157.62 million), SPAC (nil), financial services (49.02 million), property (176.81 million), plantations (104.56 million), REITs (6.08 million), closed/fund (37,300), energy (254.48 million), healthcare (194.82 million), telecommunications and media (34.22 million), transportation and logistics (30.34 million) and utilities (19.65 million). – Bernama, September 24, 2020
