Two Stock Counters Projected To Attract Buying Interest - Kakiforex.com - Financial Market Media No. 1 in the World Two Stock Counters Projected To Attract Buying Interest Two Stock Counters Projected To Attract Buying Interest

April 26, 2021

Two Stock Counters Projected To Attract Buying Interest

 Bursa Malaysia continued last week's gains to open higher this morning, in line with the positive sentiment of other regional bourses.


At 9.22am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 1.84 points to 1,610.27 from 1,608.43 when it closed on Friday afternoon last week.


Bernama reported that the key index opened 2.31 points higher at 1,610.74.


The overall market price movement was positive with gainers outpacing losers 384 to 279 while 363 counters were unchanged, 1,171 untraded and 41 others suspended.


Turnover was 1.13 billion shares worth RM597.71 million.


According to Malacca Securities in its research note, the key index may continue to move horizontally this week without any significant catalyst in the market.



“The FBM KLCI ended the week unchanged amid somewhat sluggish market sentiment but last week's index was supported by buying interest at the glove counter.


"The market this week may focus on the interest rate decision by the US Federal Reserve (Fed) to get the next investment direction.


“We expect buying interest for glove shares to continue until the financial results announcement season as there is certainty of high earnings in the sector especially in a situation amid an increase in Covid-19 cases worldwide.

In addition, investors may focus on technology stocks following the rise of the Nasdaq, ”he said.


Among heavyweights, Maybank was flat at RM8.26, Public Bank rose one sen to RM4.18, Top Glove added two sen to RM10.02 while Petronas Chemicals declined two sen to RM7.85 and IHH Healthcare fell three sen to RM5.45.


As for active counters, Minda Global gained 2.0 sen to 19 sen, Ucrest rose 2.5 sen to 50 sen, KTG was 1.0 sen higher to 25.5 sen while Nova MSC was flat at 14 sen.


On the index board, the FBM Emas Index strengthened 24.64 points to 11,865.10, the FBMT 100 rose 22.49 points to 11,514.55, the FBM 70 rose 66.69 points to 15,674.59, the FBM Emas Syariah expanded 40.97 points to 13,348.66 and the FBM ACE 59.98 points improved at 8,746.03.


By sector, the Plantation Index fell 5.72 points to 6,836.57, the Financial Services Index rose 10.90 points to 14,985.13 and the Industrial Products and Services Index added 0.44 points to 196.58.