FBM KLCI pares early gains but ends modestly higher

KUALA LUMPUR: Persistent buying in selected technology as well as consumer products and services counters managed to keep Bursa Malaysia in the positive territory, despite weaker sentiment on most regional bourses, dealers said.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.31 points or 0.34 per cent to 1,580.62, from yesterday’s close of 1,575.31.

The index opened 9.75 points higher at 1,585.06 and moved between 1,580.37 and 1,593.08 throughout the day.

On the broader market, gainers led losers 600 to 538, while 455 counters were unchanged, 560 untraded and 61 others suspended.

Total volume was weaker at 5.63 billion units worth RM4.98 billion compared with 5.93 billion units worth RM4.73 billion on Tuesday.

A dealer said the local market was boosted by news that the government has secured deals to acquire 18.4 million doses of Covid19 vaccines through Pharmaniaga and Duopharma Biotech. Both companies had inked term sheet agreements with the Ministry of Health to supply the vaccines.

Regionally, most Asian stocks fell as investors grew cautious over the lingering concerns about potential delay to US President Joe Biden administration’s US$1.9 trillion stimulus.

A dealer said investors are also closely watching the US central bank’s two-day meeting which began on Tuesday, and the Federal Open Market Commi ee is due to announce its policy decision for any fresh leads.

Bursa Malaysia will be closed today for Thaipusam holiday.

Among heavyweights, Maybank went up 5.0 sen to RM7.87, TNB added 8.0 sen to RM9.87, Petronas Chemicals advanced 10 sen to RM6.85, Top Glove gained 1.0 sen to RM6.21, while Public Bank slipped 4.0 sen to RM4.36.

Of the actives, P.A. Resources improved 1.5 sen to 20 sen, Iris Corp increased 2.5 sen to 39.5 sen, Vivocom rose 13 sen to 96.5 sen, while AT Systematization was flat at 17 sen.

On the index board, the FBM Emas Index added 56.25 points to 11,455.14, the FBMT 100 Index went up 51.87 points to 11,190.39 and the FBM Emas Shariah Index was 82.95 points higher at 12,915.60.

The FBM 70 jumped 123.99 points to 14,801.39 and the FBM ACE surged 367.24 points to 11,165.84.

Sector-wise, the Financial Services Index climbed 48.79 points to 14,746.24, the Plantation Index decreased 31.79 points to 7,147.16 and the Industrial Products and Services Index added 0.68 of-a-point to 171.14.

The Main Market volume declined to 3.52 billion shares worth RM4.05 billion compared with 3.60 billion shares worth RM3.90 billion on Tuesday.

Warrants turnover shrank to 365.21 million units valued at RM57.60 million from 558.85 million units valued at RM93.74 million.