Interest in big stocks

BURSA Malaysia ended higher yesterday on followthrough buying support in most FBM KLCI-linked stocks led by Maybank, dealers said.

The FBM KLCI gained 9.79 points or 0.58% to 1,696.34. The market bellwether moved within a range of 7.78 points between 1,694.85 and 1,702.63 during the day.

On the broader market, however, losers outpaced gainers 583 to 316, while 353 counters were unchanged, 669 untraded and 73 suspended.

Among the heavyweights, Maybank and Public Bank each rose 2 sen to RM9.45 and RM24.90 respectively, TNB fell 2 sen to RM14.24, Petronas Chemicals eased 1 sen to RM9.25, while CIMB added 10 sen to RM5.85. IHH Healthcare gained 25 sen to RM5.50.

Of the top gainers, PPB increased 90 sen to RM17.90 and Nestle was up 80 sen to RM147.00.

Hermana Capital Bhd director Datuk Dr Nazri Khan Adam Khan said external factors including the strong rebound in the US markets helped boost investors’ sentiment yesterday.

He also said December would usually be the start of a good rally for the stock market as most big funds are expected to accumulate shares ahead of the New Year. – Bernama