KL shares end higher boosted by oil-related stocks

KUALA LUMPUR: Share prices on Bursa Malaysia ended higher yesterday, boosted by gains in heavyweights especially oil-related stocks, dealers said.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI ( FBM KLCI) stood at 1,669.64, up 4.68 points from Wednesday’s close of 1,664.96.

After opening 2.67 points higher at 1,667.63 this, the benchmark index moved between 1,666.21 and 1,671.32 throughout the day.

Gainers led losers 448 to 342 while 410 counters were unchanged, 524 untraded and 80 others suspended.

Volume rose to 1.84 billion units worth RM1.74 billion versus 1.58 billion units worth RM2.02 billion recorded previously.

A dealer said the decision made by the Organisation of the Petroleum Exporting Countries (OPEC) to reduce oil production had lifted the commodity’s prices, which rose by more than five per cent yesterday.

Under the agreement, OPEC members had proposed to cut collective oil output to a range of 32.5 to 33 million barrels per day from 33.4 million barrels per day.

At the close, Petronas Chemicals rose nine sen to RM6.69, SapuraKencana Petroleum improved seven sen to RM1.57, Petronas Gas added two sen to RM21.88 while Petron was five sen higher at RM4.05.

On the scoreboard, the FBM Emas Index rose 33.58 points to 11,809.96, the FBMT100 Index increased 31.37 points to 11,509.29 and the FBM Emas Shariah Index was 42.94 points higher at 12,457.01.

The FBM 70 gained 34.59 points to 13,885.49 and the FBM Ace was 33.83 points better at 5,262.91.

Sector-wise, the Finance Index added 35.84 points to 14,350.79, Industrial Index improved 28.74 points to 3,140.33 but the Plantation Index was 14.97 points lower at 7,958.89.

Of the heavyweights, Tenaga and Public Bank fell six sen each to RM14.36 and RM19.88, respectively, Maybank advanced 10 sen to RM7.62 and Sime Darby added 12 sen to RM7.77.

Among actives, Borneo Oil inched up half- a- sen to 18.5 sen, AT Systematization and Sumatec were flat at six sen and 8.5 sen, respectively, and Bumi Armada added three sen to 72 sen.

Main market turnover increased to 1.25 billion shares worth RM1.65 billion compared with 1.04 billion shares valued at RM1.92 billion on Wednesday.

The ACE Market volume rose to 260.61 million units valued at RM28.71 million versus 236.26 million units valued at RM38.56 million.

Warrants improved to 322.87 million shares worth RM59.54 million from 303.88 million shares worth RM57.93 million previously.

Consumer products accounted for 65.93 million shares traded on the Main Market, industrial products ( 298.41 million), construction ( 49.52 million), trade and services ( 607.40 million), technology ( 33.39 million), infrastructure ( 9.84 million), SPAC ( 36.80 million), finance (51.90 million), hotels (140,800), properties (56.82 million), plantations ( 23.77 million), mining (20,000), REITs (13.56 million) and closed/fund (58,400). — Bernama