KUALA LUMPUR – Bursa Malaysia finished at its intraday high today with the benchmark composite index rising 1.21% as investors’ optimism was uplifted by the Budget 2021 announcement.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 18.15 points to 1,519.64 after opening 0.69 of-a-point easier at 1,500.80.
The index moved between 1,497.32 and 1,519.64 throughout the day.
Gainers led losers 624 to 469, while 436 counters were unchanged, 613 untraded and 40 others suspended.
Total volume rose to 7.67 billion worth RM4.67 billion units from yesterday’s 6.92 billion units worth RM3.89 billion.
ACE Market stocks continued their uptrend with the market index putting on 3.52%, while terms of sector, healthcare, telecommunication and financial services continued to trade higher, increasing 2.27%, 1.77% and 1.19%, respectively.
Malacca Securities Sdn Bhd analyst Kenneth Leong said market sentiment was boosted by news that the government had sought to balance the healthcare capacity’s needs while building upon the current economic recovery momentum together and developing better resilience for the future.
“Under the prevailing positive market sentiment, we expect the market undertone to remain buoyant on investors’ quest for higher yield return.
"The upbeat performance was also underpinned by the banking sector, which saw the financial index and most banking stocks trade higher today due to the overnight policy rate (OPR) status quo by Bank Negara previously," he told Bernama.
On external factors, Leong said market sentiment was also boosted by the latest updates on the US Election.
Among the heavyweights, Maybank rose 10 sen to RM7.18, Top Glove gained 20 sen to RM8.50, Hartalega increased 20 sen to RM18.20 and Public Bank was 22 sen higher at RM15.22.
Of the actives, AT Systematization rose one sen to 13 sen, Iris Corporation gained one sen to 31.5 sen, Netx Holdings added 1.5 sen to 14 sen, while Kanger fell 1.5 sen to 18.5 sen.
On the index board, the FBM Emas Index rose 128.80 points to 11,018.97, the FBMT 100 Index was 131.15 points better at 10,813.28, while the FBM Emas Shariah Index increased 142.67 points to 13,275.40.
The FBM 70 went up 183.75 points to 14,516.80 and the FBM ACE was 373.01 points firmer at 10,973.91.
The Financial Services Index rose 144.34 points to 12,294.46, the Industrial Products and Services Index was 0.43 of-a-point better at 149.79 but the Plantation Index fell 8.23 points to 7,123.38.
The Main Market volume fell to 3.19 billion shares worth RM3.36 billion from yesterday's 3.83 billion shares worth RM3.04 billion.
Warrants turnover increased rose to 901.24 million units valued at RM196.64 million from 733.30 million units valued at RM145.95 million previously.
Volume on the ACE Market improved to 3.57 billion shares worth RM1.10 billion compared with 2.36 billion shares worth RM703.68 million on Thursday.
Consumer products and services accounted for 657.37 million shares traded on the Main Market, industrial products and services (956.02 million), construction (170.57 million), technology (396.37 million), SPAC (nil), financial services (35.81 million), property (233.81 million), plantations (108.43 million), REITs (9.48 million), closed/fund (5,800), energy (176.47 million), healthcare (124.21 million), telecommunications and media (68.91 million), transportation and logistics (131.83 million), and utilities (126.96 million). – Bernama, November 6, 2020
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