July 21, 2021

Examine the Reaction of the Bursa Malaysia Market After the Aidiladha Holiday

 Bursa Malaysia traded slightly higher today after closing yesterday in conjunction with the Aidiladha celebrations and was influenced by Wall Street's good overnight performance.

The US stock market recorded a rebound after suffering losses following investors ’focus on economic growth and the development of the Delta variant’s Covid-19 contagion.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.64 points to 1,520.61 from 1,519.97 at the close on Monday.

According to Bernama, the index traded 1.40 points higher at 1,521.37.

Looking to the broader market, losers outnumbered gainers by 175 to 160, while 309 counters were unchanged, 1,599 untraded and 18 others suspended.

Turnover stood at 261.32 million units worth RM150.66 million.

According to Malacca Securities, the KLCI was gloomy on Monday following last-minute profit-taking activities before closing the market in conjunction with the Aidiladha public holiday.

However, selected recovery -themed sectors are likely to be the focus after movement control (EMCO) is enhanced in Selangor and Kuala Lumpur.

According to a statement from the brokerage firm, the Nasdaq recovery factor is likely to push tech stocks to show excitement this week.

Adding brokerage firms, buying interest in sectors such as consumer, construction and real estate will be the focus of investors after EMCO in some Regions has been terminated.

For active stocks, Maybank rose two sen to RM8.05, Petronas Chemicals jumped five sen to RM8.05, TNB and IHH Healthcare rose one sen each to RM9.77 and RM5.76 respectively and Public Bank was flat at RM4.04 .

Next, Haily Group ‘rocketed’ nine sen to 77 sen, Ramssol Group rose 4.5 sen to 71.5 sen and Pasukhas Group warrants rose 2.5 sen to 71.5 sen.

Meanwhile, Pasukhas fell 1.5 sen to nine sen and Sapura Energy was unchanged at 12 sen.

On the index board, the FBM Gold Index jumped 6.91 points to 11,119.38, the FBMT 100 Index strengthened 7.18 points to 10,822.95 and the FBM ACE rose 20.55 points to 7,279.76.

The FBM Emas Shariah Index rose 10.71 points to 12,200.04 and the FBM 70 rose 20.10 points to 14,539.39.

By sector, the Financial Services Index rose 10.49 points to 14,882.41, the Industrial Products and Services Index rose 0.52 points to 188.91 and the Plantation Index rose 5.31 points to 6,240.20.