(Updated)

Bursa rebounds in early morning trade

Bursa rebounds in early morning trade
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KUALA LUMPUR (Oct 4): Bursa Malaysia has bounced back from its downtrend last week to open higher on Monday morning, lifted by positive market sentiment, dealers said.

At 9.05am, the benchmark FBM KLCI had risen 6.36 points to 1,530.84 from last Friday’s close at 1,524.48.

It opened 4.56 points firmer at 1,529.04.

MISC Bhd and Petronas Chemicals Group Bhd (PetChem) were the biggest contributors to the composite index with a combined total of 2.48 points after the former rose by 17 sen to RM7 and the latter added eight sen to RM8.82.

The overall market breadth on the local bourse was positive with gainers outpacing losers 278 to 124, while 291 counters were unchanged, 1,552 untraded and seven others suspended.

Turnover stood at 210.51 million units worth RM120.45 million.

A dealer said the positive sentiment was fuelled by the prime minister’s announcement with regard to the long-awaited resumption of interstate travel following the rise in the Covid-19 vaccination rate among the adult population in the country.

Datuk Seri Ismail Sabri Yaakob said he was confident that unrestricted interstate travel is fast approaching as the percentage of the fully vaccinated adult population had reached over 86%.

Among the heavyweights, Malayan Banking Bhd (Maybank) and Public Bank Bhd added one sen each to RM8.06 and RM4.05 respectively, Tenaga Nasional Bhd (TNB) chalked up eight sen to RM9.68, CIMB Group Holdings Bhd gained three sen to RM4.73 and IHH Healthcare Bhd was flat at RM6.65. 

Of the actives, Axteria Group Bhd bagged three sen to 27 sen and CTOS Digital Bhd erased 10 sen to RM1.82, while Sapura Energy Bhd and Tanco Holdings Bhd were flat at 10 sen and 24 sen respectively. 

On the index board, the FBM Emas Index increased 45.52 points to 11,269.71, the FBMT 100 Index advanced 42.64 points to 10,949.88, the FBM Emas Shariah Index rose 55.38 points to 12,303.45, the FBM 70 went up 46.98 points to 14,921.52 and the FBM ACE improved 46.2 points to 7,110.62.

Sector-wise, the Industrial Products and Services Index added 1.08 points to 204.01, the Plantation Index bagged 6.93 points to 6,355.01 and the Financial Services Index increased 31.85 points to 15,191.93.