FBM KLCI recoups earlier losses to end marginally higher
Published on: Friday, July 12, 2019

KUALA LUMPUR: Bursa Malaysia recouped earlier losses to close marginally higher Thursday, backed by improved buying sentiment in both Shariah and conventional mid-sized capitalisation stocks. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 0.29 of-a-point higher at 1,679.26 compared with Wednesday’s close of 1,678.97.

The index moved between 1,674.70 and 1,681.78 throughout the day. Phillip Capital Management Asia-Pacific senior vice-president (Investment) Datuk Dr Nazri Khan Adam Khan said on a technical perspective, the FBM KLCI’s upside development since May could still be extended.

“Market outlook is still bullish, given that the 20-day moving average line has crossed above the 50-day moving average line.

“In line with the ongoing market strength whereby the 14-day relative strength index indicator hovers above 50 points, we also detected a positive divergence development in the moving average convergence divergence indicator,” he told Bernama.  

He added that the immediate support is currently seen at 1,658 points, and the next support is pegged at the meaningful 1,600-point support mark with 1,700-point mark remaining a strong resistance. At the close, the broader market was positive, with advancers trouncing decliners 501 to 329, while 421 counters remained unchanged, 597 were untraded and 19 others suspended.

Among heavyweights, Maybank and CIMB were up by one sen to RM8.95 and RM5.34 respectively while IHH Healthcare, Axiata and Nestle were all flat at RM5.81, RM5.18 and RM148.50 respectively.

Of the actives, KNM improved four sen to 35 sen, Bumi Armada improved two sen to 23.5 sen, UWC and My E.G rose three sen to RM1.43 and RM1.49 respectively. 

The FBM Emas Index added 12.94 points to 11,892,89 and the FBMT 100 Index was up 5.84 points to 11,719.4. 

The FBM Emas Shariah Index gained 20.34 points to 12,279.77, the FBM 70 improved 23.08 points to 14,865.3 and the FBM Ace increased 59.11 points to 4,667.05.

Sector-wise, the Financial Services Index eased 4.08 points to 16,763.68, the Industrial Products and Services Index declined 0.02 of-a-point to 161.44 and the Plantation Index shed 19.9 points to 6,939.68.

Total transaction volume was higher at 3.18 billion units worth RM2.21 billion compared with 2.23 billion units worth RM2.02 billion on Wednesday. 

Main Market volume rose to 2.40 billion shares worth RM2.01 billion from 1.59 billion shares worth RM1.86 billion on Wednesday. 

Warrants turnover increased to 416.52 million units valued at RM90.52 million against 353.08 million units valued at RM73.47 million, previously. Volume on the ACE Market expanded to 355.22 million shares worth RM105.27 million from 286.87 million shares worth RM81.09 million on Wednesday. 

Consumer products and services accounted for 365.17 million shares traded on the Main Market, industrial products and services (260.59 million), construction (182.39 million), technology (365.57 million), SPAC (nil), financial services (33.62 million), property (127.13 million), plantation (12.76 million), REITs (12.49 million), closed/fund (8,000), energy (946.50 million), healthcare (40.46 million), telecommunications and media (40.46 million), transportation and logistics (36.46 million) and utilities (12.88 million). – Bernama  


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