Last Week's Close was Weak, How's the Stock Market Opening This Week? - Kakiforex.com - Financial Market Media No. 1 in the World Last Week's Close was Weak, How's the Stock Market Opening This Week? Last Week's Close was Weak, How's the Stock Market Opening This Week?
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March 15, 2021

Last Week's Close was Weak, How's the Stock Market Opening This Week?

 Trading on Bursa Malaysia started the trading week this morning more positively to open higher, in line with performance on Wall Street and the oil market.


At 9.08am, the benchmark FBM KLCI index rose 5.03 points to 1,620.72 from 1,615.69 when it closed last Friday evening.


Bernama reported that the key index opened 3.93 points higher at 1.619.62.


On the broader market, gainers outnumbered losers by 393 to 208 while 353 counters were unchanged, 1,241 untraded and 11 others suspended.


Turnover was 768.51 million units worth RM347.62 million.


Malacca Securities expects commodity and oil/gas counters to rise as crude palm oil has reached its highest level in several years, while Brent crude continues to hover near the US $ 70 per barrel level.


Overall, market sentiment on the local bourse will remain cautious ahead of the next US Federal Reserve (US) Meeting which is expected to announce a decision on interest rates.



"While the key index may be trading in a cautious mode, traders are still monitoring recovery-themed stocks such as the consumer, banking and construction sectors amid the decline in COVID-19 daily cases which are currently below 2,000 levels," he said in a statement. research notes today.


Meanwhile, the technology sector saw a modest decline in early trading after posting gains for four consecutive days following losses recorded in overnight trading on the Nasdaq.


Among heavyweights, PetChem rose 11 sen to RM8.38 while Maybank, CIMB and Press Metal added six sen each to RM8.46, RM4.53 and RM10.12.


Top Glove gained four sen to RM5.24 but Public Bank, IOI and TM dropped one sen each to RM4.31, RM4.22 and RM6.02.


Among the most active counters, GFM Services declined 3.5 sen to 43.5 sen, Dynaciate rose half -a -sen to 15.5 sen, Dagang Nexchange rose four sen to RM1.01 and Lambo was flat at 2.5 sen.


On the index board, the FBM Emas Index rose 21.53 points to 11,893.66, the FBMT 100 rose 27.57 points to 11,566.44 and the FBM Emas Syariah was higher by 28.49 points to 13,164.49.


The FBM 70 index increased 4.95 points to 15,656.95 and the FBM ACE decreased 36.65 points to 10,628.54.


By sector, the Financial Services Index grew 57.20 points to 15,607.06 and the Plantation Index increased 22.23 points to 7,159.01 while the Industrial Products and Services Index rose 1.42 points to 193.52.