Banking counters lift FBM KLCI at midday

Bursa Malaysia’s barometer index was higher at midday today. — Bernama pic
Bursa Malaysia’s barometer index was higher at midday today. — Bernama pic

KUALA LUMPUR, Oct 12 — Bursa Malaysia’s barometer index was higher at midday today as investors continued to seek economic growth-related heavyweight stocks mainly in the banking sector.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) bagged 7.94 points to 1,578.76 compared with 1,570.82 at Monday’s close.

The bellwether index opened 1.52 points better at 1,572.34 and moved between 1,563.72 and 1,578.94 during the morning session.

The broader market breadth was mixed as gainers were neck and neck with decliners at 485 and 481, respectively, while 448 counters were unchanged, 857 untraded and six others suspended.

Turnover stood at 2.97 billion units worth RM1.81 billion.

Regionally, markets were mostly lower amid weaker overnight Wall Street performance.

It was reported that investors were concerned about the US inflation and interest rate outlook following the surge in prices of commodities such as crude oil.

Brent crude remained above US$83 per barrel level while the West Texas Intermediate stood above US$80 per barrel, fuelled by rebounding demand.

At home, investors continued to cheer the move to lift travel restrictions, which set to further improve the domestic economic outlook.

Banking stocks led the gainers among the heavyweights, with Public Bank adding four sen to RM4.15, Maybank rising eight sen to RM8.24, CIMB increasing five sen to RM5.05, RHB Bank gaining 10 sen to RM5.51, and HLFG climbing 28 sen to RM18.18.

Meanwhile, Sime Darby advanced four sen to RM2.31 and Genting Malaysia was eight sen better at RM5.25.

As for the active counters, Kanger International and Sapura Energy were flat at 6.5 sen and 10.5 sen, respectively, while Serba Dinamik slid half-a-sen to 40 sen and AYS Ventures was 10.5 sen stronger at 85 sen.

See also  Maersk plans lay off 2,000 in business shake-up, boosts outlook amid growing freight demand

On the index board, the FBM Emas Index was higher by 47.38 points at 11,619.66, the FBMT 100 Index edged up 49.78 points to 11,263.75, the FBM Emas Shariah Index added 22.12 points to 12,708.41, and the FBM 70 expanded 40.58 points to 15,236.61. However, the FBM ACE declined 31.03 points to 7,175.68.

Sector-wise, the Financial Services Index rose 138.89 points to 15,492.35, the Industrial Products and Services Index bagged 0.49 of-a-point to 211.26, and the Plantation shed 36.92 points to 7,006.49. — Bernama


Leave a Reply