Bursa higher for second consecutive day

BURSA Malaysia continued its uptrend for the second consecutive day yesterday, backed by better market sentiment as investors assessed decent corporate earnings.

At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 9.10 points to 1,623.67 after opening 0.11 of-a-point higher at 1,614.68. The index moved between 1,611.48 and 1,626.64 throughout the day.

Market breadth was positive as gainers beat losers 441 to 405 with 339 counters unchanged, 767 untraded and 74 others suspended.

Turnover declined to 1.95 billion units worth RM1.83 billion from Tuesday’s 2.40 billion units worth RM4.52 billion.

Bank Islam chief economist Dr

Mohd Afzanizam Abdul Rashid said Tenaga Nasional Bhd lifted the benchmark index.

“Even though its net profit has declined, but looking at the operational side, it is doing fine.”

At the close yesterday, Tenaga gained 66 sen to RM12.32, with 17.70 million shares traded.

Among other heavyweights, IHH advanced 14 sen to RM5.50, Petronas Gas gained 48 sen to RM16.82, Press Metal perked up 21 sen to RM4.45 and Digi rose nine sen to RM4.81.

Of the actively-traded stocks, Ekovest added 4.5 sen to 77.5 sen and its warrants were up five sen to 26 sen, Bumi Armada climbed half-a-sen to 20 sen and IWCity added 9.5 sen 82 sen.

The FBM Emas Index added 43.22 points to 11,368.24 and the FBMT 100 was 45.03 points higher at 11,226.28.

The FBM Emas Shariah Index rose 99.81 points to 11,555.56 and the FBM ACE Index gained 23.18 points to 4,291.47 but the FBM 70 fell 17.59 points to 13,814.16.

Sector-wise, the Financial Services Index dropped 27.45 points to 16,612.70 and the Plantation Index shed 33.90 points to 6,827.30 but the Industrial Products and Services Index was 0.05 of-a-point better at 160.14.

Main Market volume shrank to 1.39 billion shares worth RM1.74 billion from 1.79 billion shares worth RM4.41 billion on Tuesday.

Warrants turnover declined to 278.73 million units worth RM47.71 million from 324.88 million units worth RM69.1 million.

Volume on the ACE Market climbed to 282.49 million shares valued at RM46.98 million from 279.72 million shares valued at RM41.55 million previously.

The FBM KLCI futures contract on Bursa Malaysia Derivatives also ended firmer for the second consecutive day.

May 2019 was 7.5 points higher at 1,619, June 2019 and December 2019 both added 5.5 points to 1,617 and 1,612.5, respectively, while September 2019 was seven points higher at 1,614.5.

Turnover increased further to 31,586 lots from 27,245 lots on Tuesday while open interest advanced to 66,034 contracts from 52,599 contracts previously.