KUALA LUMPUR – Bursa Malaysia ended with a bang today after Budget 2021 was passed at the policy stage in Parliament.
At the close, the benchmark FBM KLCI was 14.53 points higher at 1,612.11 compared with yesterday's close of 1,597.58.
The index moved between 1,590.65 to 1,612.78 during the day.
Across the broader market, gainers thumped losers 816 to 412 while 627 counters were unchanged, 323 untraded and 34 others suspended.
Total volume stood at 8.88 billion units worth RM4.68 billion from yesterday's 8.93 billion units worth RM4.22 billion.
An analyst said with the budget being passed, the main obstacle in terms of funding the government's operations as well as development plans had been cast away.
The Supply Bill 2021, which covers Budget 2021, was approved with a majority voice vote after attempts by several MPs to initiate bloc voting failed when only 13 MPs stood up, fewer than the required 15.
The dealer added that the budget approval had also erased concerns over a possible change of government.
On Bursa Malaysia, Top Glove staged a rebound, rising 40 sen to RM7.05 partly driven by a share buy-back, while Telekom Malaysia added 16 sen to RM5.00, IHH increased four sen to RM5.60, and Axiata inched up three sen to RM3.35.
Among the actives, Vivocom shed 5 sen to 80.5 sen, AT Systematization gained three sen to 20 sen and Xidelang was flat at seven sen.
On the index board, the FBM Emas Index was 127.21 points higher at 11,567.64, the FBMT 100 Index rose 120.68 points to 11,350.54, the FBM Emas Shariah Index jumped 214.77 points to 13,308.63, and the FBM 70 advanced 229.09 points to 14,769.06.
The FBM ACE climbed 21.83 points to 10,601.30, the Industrial Products and Services Index picked up 2.80 points to 161.41 and the Plantation Index added 36.84 points to 7,350.37, but the Financial Services Index slipped 22.27 points to 14,205.14. – Bernama, November 26, 2020
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