KUALA LUMPUR: Share prices on Bursa Malaysia closed broadly higher today, boosted by renewed buying support seen across the board in tandem with the better showing on regional peers.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) moved in the positive territory throughout the day, closing 10.09 points higher to 1,792.79 from yesterday’s close of 1,782.7.
The key index opened 3.09 points better at 1,785.79.
Gains in Maybank, Sime Darby, Petronas Gas and Petronas Chemicals lifted the composite index higher by a combination of 7.494 points.
Malaysian Association of Technical Analysts President Nik Ihsan Raja Abdullah said Bursa Malaysia rebounded from yesterday’s downtrend as positive sentiment emerged and consistently fuelled demand in the market.
“Bursa Malaysia experienced correction yesterday following the year-end window dressing. But today the sentiment was bullish with buying across the board and strong volume.
“Unlike yesterday, which only saw gains in the second liners and small capitalisation stocks, today’s buying was broader, including in blue-chips,” he told Bernama.
Nik Ihsan said the local market enjoyed the spillover effect form the gains on Wall Street last night, the stronger ringgit against the US dollar, as well as higher foreign fund inflows into the country.
He said buying in government-linked counters were mostly on the rise ahead of the 14th General Election.
“They (investors) are confident of the current (ruling) party maintaining (power),” he said, placing the resistance level at 1,800-1,825, while support level at 1,760-1,772.
Buying momentum on Bursa Malaysia was stronger, reflected by a higher turnover of 5.11 billion shares worth RM3.68 billion compared with 3.14 billion shares valued at RM2.77 billion yesterday.
Gainers overwhelmed losers 770 to 305, while 340 counters were unchanged, 396 untraded and 19 others suspended.
Among heavyweights, Maybank rose 12 sen to RM9.78, Tenaga bagged eight sen to RM15.30, Petronas Chemicals earned 10 sen to RM7.95, CIMB gained three sen to RM6.53, while Public Bank was flat at RM20.76.
Of actives, Sino Hua-An perked four sen to 46 sen, Sapura Energy added 1.5 sen to 69 sen, DGB Asia increased 3.5 sen to 21.5 sen, and MRCB improved nine sen to RM1.25.
On the scoreboard, the FBM Emas Index surged 103.41 points to 12,930.37, FBMT 100 Index soared 100.05 points to 12,588.46, the FBM Emas Shariah Index climbed 120.36 points to 13,293.95, the FBM 70 jumped 225.75 points to 16,061.02, and the FBM Ace chalked up 118.17 points to 6,830.2.
Sector-wise, the Finance Index advanced 112.97 points to 16,924.57, the Industrial Index rose 39.64 points to 3,309.16 and the Plantation Index improved 29.81 points to 7,944.19.