KL shares end morning session broadly higher

Bursa Malaysia registers small gains for morning trade. ― Picture by Hari Anggara

KUALA LUMPUR, Sept 28 — Bursa Malaysia ended the morning session higher almost across the board, buoyed by strong underlying momentum.

Among the indices, technology, healthcare, ace, small, and mid-cap market were higher, posting more than one per cent each to the index.

At 12.30 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.77 point to 1,509.91 from Friday’s close of 1,509.14.

It moved between 1,507.35 and 1,519.05 throughout the morning trading session, after opening 1.12 points higher at 1,510.26.

On the broader market, gainers surpassed losers 521 to 372, while 408 counters were unchanged, 800 untraded and 21 others suspended.

Total volume stood at 3.04 billion shares worth about RM1.91 billion.

An analyst said that the market stability was in line with the US market, which saw a rally on tech-linked counters.

“At the same time, the healthcare-linked counters continued to dictate the momentum and it may dominate trading sentiment as a number of new infections across the globe escalates,” she said.

She added that the sentiment was also lifted post Sabah state election, signalling that the current federal government still has the support to lead.

“This is a feel good moment which I believe the investors should take advantage of to pump in money since our stocks are currently undervalued. It is a good time to buy,” she said.

She reckoned that retail players may continue to nibble on the mild recovery mode from the lower liners and broader market shares, capitalising on the recent positive market sentiment.

However, they will still keep an eye open on the US presidential debate and monitor the health crisis update and its cases.

Among the heavyweights, Maybank was flat at RM7.09, Top Glove rose three sen to RM8.83, Tenaga fell two sen to RM10.86, and Hartalega was 42 sen higher at RM17.42.

Of the actives, XOX rose 1.5 sen to 18.5 sen, Metronic gained one sen to nine sen, Advance Synergy fell three sen to 14.5 sen, and Vsolar was flat at four sen.

On the index board, the FBM Emas Index increased 31.33 points to 10,872.14 and the FBM Emas Shariah Index bagged 54.82 points to 13,017.24.

The FBM 70 strengthened 120.38 points to 14,170.67, the FBMT 100 Index was 27.09 points higher at 10,695.60 and the FBM ACE jumped 137.28 points to 10,164.50.

Sector-wise, the Financial Services Index slipped 3.2 points to 12,324.42, the Plantation Index went up 10.13 points to 7,065.25 and the Industrial Products and Services Index inched up 0.54 of-a-point to 135.33. — Bernama

Source: Malay Mail