July 6, 2021

Low Price Stocks Wanted By Investors

 Bursa Malaysia started trading lower this morning but rebounded later due to the presence of more significant buying interest.

At 9.05am, the key benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 1.23 points to 1,533.59 from 1,532.36 when trading ended on Monday.

According to Bernama, the benchmark index opened down 0.44 points to 1,531.92.

On the broader market, gainers outpaced losers by 222 to 115 while 272 counters were unchanged, 1,563 untraded and eight others suspended.

Turnover stood at 286.43 million units worth RM124.17 billion.

Meanwhile, Malacca Securities said the local bourse was likely to record lower -priced stock buying activity, especially counters that recorded oversold.

Apart from that, Malaysia is also witnessing new developments such as the arrival of millions of doses of COVID-19 vaccine this month which will boost vaccination rates to record levels while crude palm oil (CPO) and oil prices are projected to continue to rise.

As of this morning, the price of Brent crude, which is also a global benchmark, has risen 0.32% to US $ 77.41 a barrel.

Heavyweights saw Axiata rise three sen to RM3.83, Dialog rose four sen to RM292, Genting Bhd gained five sen to RM4.98, Genting Malaysia and TNB rose two sen each to RM2.85 and RM9.75 respectively.

Maybank and IHH Healthcare were flat at RM8.13 and RM5.62 while Public Bank lost one sen to RM4.11.

Of the actives, Serba Dinamik and Sapura Energy rose half-a-sen each to 49 sen and 13.5 sen respectively while Sedania Innovator added six sen to RM1.12, T7 Global gained three sen to 40.5 sen and Jetson Group declined one sen to 54.5 sen.

On the index board, the FBM Emas Index rose 14.32 points to 11,164.04, the FBMT 100 Index rose 11.13 points to 10,869.12 and the FBM Emas Syariah Index gained 22.72 points to 12,185.9.

FBM ACE rose 71.28 points to 7,400.3 while FBM 70 gained 24.18 points to 14,421.06.

By sector, the Financial Services Index decreased 6.91 points to 15,110.11, the Industrial Products and Services Index rose 0.03 points to 188.05 and the Plantation Index increased 5.73 points to 6,387.3.