FBM KLCI rebounds to finish greater however market breadth stays detrimental

KUALA LUMPUR: Bursa Malaysia’s benchmark index ended 1.27 per cent firmer as we speak as traders’ optimism was uplifted by Financial institution Negara Malaysia’s (BNM) transfer to keep up the In a single day Coverage Price (OPR), a supplier stated.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) strengthened 20.44 factors to 1,618.54 from 1,598.10 at yesterday’s shut.

The barometer index, which opened 10.59 factors greater at 1,608.69, moved between 1,600.18 and 1,618.54 all through the buying and selling session.

Nevertheless, on the broader market, losers thumped gainers 530 to 433, whereas 408 counters had been unchanged, 869 untraded, and 10 others suspended.

Turnover improved to three.43 billion items valued at RM3.76 billion from Wednesday’s 3.23 billion items valued at RM3.68 billion.

The central financial institution as we speak determined to keep up the OPR at 1.75 per cent at its second Financial Coverage Committee (MPC) assembly of the yr, noting that the general restoration trajectory remained on observe regardless of the latest moderation in financial exercise as a result of Omicron-driven COVID -19 surgical procedures.

Rakuten Commerce Sdn Bhd vice-president of fairness analysis Thong Pak Leng stated the upward trajectory was additionally boosted by shopping for assist on chosen heavyweights comparable to banking, plantation and oil and gasoline shares.

Regionally, he stated key indices closed principally greater following in a single day constructive efficiency on Wall Road, whereas traders had been optimistic amid ongoing talks to diffuse the Russia-Ukraine disaster.

“On the home entrance, the efficiency of the native bourse ought to stay regular as overseas funds proceed to build up on native equities, though we don’t low cost the potential of intermittent correction,” he advised Bernama.

As such, he stated, the FBM KLCI was anticipated to pattern range-bound, hovering throughout the 1,610-1,625 vary in the direction of the weekend.

Among the many heavyweights, Maybank gained 18 sen to RM9.12, Public Financial institution added two sen to RM4.43, Petronas Chemical substances improved 23 sen to RM10.0, IHH Healthcare rose one sen to RM6.57 and Press Metallic ticked up 15 sen to RM7.22.

Of the actives, Dagang Nexchange shed six sen to RM1.08 and VS Business slid 14 sen to 96 sen, whereas Hibiscus Petroleum expanded eight sen to RM1.30. – Bernama


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