Bursa Malaysia Key Index Rebounds To End Slightly Higher At Midday
By Fatin Umairah Abdul Hamid
KUALA LUMPUR, Sept 24 (Bernama) -- Bursa Malaysia’s key index rebounded to end the morning trading session slightly higher, supported by buying interest in selected heavyweights, led by transportation and logistics, industrial products and healthcare counters.
MISC rose 21 sen to RM7.98, Petronas Chemicals added 10 sen to RM4.59 and IHH Healthcare was up by seven sen to RM8.07.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.29 points to 1,677.72 from Wednesday’s close of 1,676.43.
The benchmark index, which opened 1.98 points lower at 1,674.45, moved between 1,671.48 and 1,679.47 during the session.
However, market breadth was negative, with losers outpacing gainers 586 to 374, while a total of 490 counters were unchanged, 1,451 untraded and 27 suspended.
Turnover stood at 1.83 billion units worth RM1.16 billion.
In a research note, Apex Securities Bhd said utilities counters could remain in focus amid the more cautious market environment, supported by resilient electricity demand, ongoing grid investment and relatively defensive earnings visibility.
Meanwhile, banking stocks may also attract interest, underpinned by healthy loan growth and resilient asset quality, although margin pressure could persist amid the evolving interest-rate outlook.
Rakuten Trade Sdn Bhd’s equity research vice-president, Thong Pak Leng told Bernama that he expects the barometer index to trend within the 1,670-1,685 range, underscored by heightening volatility.
Among the heavyweights, Maybank and CIMB rose two sen each to RM10.16 and RM7.95, respectively, Public Bank improved one sen to RM4.84, and IHH Healthcare advanced seven sen to RM8.07, while Tenaga Nasional eased four sen to RM13.10.
Of the most actively traded counters, Zetrix AI lost half a sen to 18 sen and V.S Industries dropped one sen to 24 sen, while Aimax and Computer Forms both ticked up half a sen to 1.5 sen and 9.5 sen, respectively, and NexG notched up three sen to 29.5 sen.
Nestle led the top gainers list, advancing RM2.14 to RM91.64 and MISC perked 21 sen to RM7.98, while UMS Integration and Ajinomoto both firmed 20 sen to RM8.60 and RM19.46, respectively, and Sarawak Oil Palms appreciated 11 sen to RM5.96.
As for the top losers, Malaysian Pacific Industries shed 96 sen to RM43.62, Petronas Gas declined 22 sen to RM17.28, MI Technovation and Dutch Lady Milk Industries lost 20 sen each to RM5.93 and RM30.20, respectively, and Unisem slipped 16 sen to RM4.58.
On the index board, the FBM Mid 70 Index fell 53.57 points to 17,780.23, the FBM Emas Index declined 3.10 points to 12,474.25, the FBM Top 100 Index eased 2.43 points to 12,265.16, the FBM Emas Shariah Index slipped 0.45 of a point to 12,319.77, and the FBM ACE Index shed 27.73 points to 5,399.68.
Sector-wise, the Industrial Products and Services Index rose 0.16 of a point to 185.11, the Plantation Index added 18.87 points to 9,428.67 and the Financial Services Index climbed 21.44 points to 19,599.22, while the Energy Index slipped 0.35 of a point to 850.10.
-- BERNAMA