Share prices on Bursa Malaysia ended broadly higher yesterday with strong gains recorded in banking and plantation-related stocks after Wall Street posted another increase overnight, dealers said.
The presence of some local institutional funds contributed to the modest rally while retail players were seen picking up the lower liners and penny stocks, they added.At the close, the benchmark FTSE Bursa Malaysia KLCI jumped 17.61 points or 1.63 per cent to 1,097.24 after trading as high as 1,104.87.
It had opened unchanged at 1,079.63.The Finance Index rose 244.27 points to 8,942.75, the Industrial Index climbed 22.65 points to 2,397.02 and the Plantation Index went up 39.17 points to 5,356.74.The FBMEmas Index surged 128.11 points to 7,408.11, the FBM Top 100 firmed up 115.55 points to 7,199.31, the FBM2BRD Index advanced 69.47 points to 4,814.42 and the FBMMesdaq Index was 95.80 points higher at 4,076.37.
Gainers led losers by 574 to 120 while 151 counters were unchanged, 388 untraded and 36 others suspended.Total volume rose to 1.365 billion shares valued at RM1.788 billion compared with Tuesday's 788.982 million shares worth RM1.106 billion.
"The local bourse was earlier propelled by the positive gains on Wall Street due to better-than-expected Goldman Sachs results," a dealer said.He said market sentiment was also bolstered by strong crude palm oil prices and expectations of positive China gross domestic product data due for release today.
Leading the actives, KNM Group climbed 8.5 sen to 83.5 sen, SAAG Consolidated advanced 3.5 sen to 29.5 sen, Time Engineering added 1.5 sen to 29.5 sen, Iris Corp edged up half a sen to 17.5 sen and Sino Hua-An perked up one sen to 52 sen.
Among heavyweights, Public Bank and Maybank rose 25 sen each to RM9.95 and RM5.90 respectively while Tanjong firmed up 20 sen to RM14.40.PPB Group rose 20 sen to RM12.00, Boustead gained 18 sen to RM4.06 and Sime Darby advanced 15 sen to RM7.35.
The FBM KLCI futures closed sharply higher, tracking the favourable performance of the cash market, dealers said.At close, the July 2009 contract rose 28.5 points to settle at 1,110.0 and August 2009 went up 29.0 points to 1,107.0.
September 2009 advanced 23.0 points to 1,096.0 and December 2009 was 28.0 points higher at 1,088.0.Volume was 8,102 lots, up from the 7,228 lots on Tuesday while open interests rose slightly to 18,661 contracts from 18,370 contracts previously. - Bernama
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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