InstaForex

August 24, 2021

Continuously Driven by Positive Sentiment, Stock Exchange Trade Shows Fierce Reaction!

 Bursa Malaysia in today's trading session opened slightly higher following profit taking activity after two consecutive days of gains.


However, the profit taking activity did not at all threaten the market to continue to record a higher increase.


At 10.22am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 12.48 points or 0.84% ​​to 1,534.91 from 1,522.43 at the close on Monday.


According to Bernama, the key index opened 1.78 points higher at 1,524.21.


On the broader market, gainers outnumbered losers by 265 to 172, while 284 counters were unchanged, 1,498 untraded and six others suspended.


Turnover stood at 367.22 million units worth RM174.5 million.


According to Malacca Securities, the downward trend in Covid-19 daily cases has sparked more focus from market participants on the recovery sector.


"We are confident that buying interest in recovery sectors such as consumers, transport and logistics and aviation as well as tourism will continue," he added.



In addition, strong overnight performance in the Wall Street market has driven movements on tech stocks.


For heavyweights, Maybank declined one sen to RM8.16, while Public Bank and Petronas Chemicals were flat at RM3.94 and RM7.98 respectively.


Apart from that, Petronas Dagangan (PetDag) rose 38 sen to RM19.18 and Genting Malaysia (GenM), TNB, RHB Bank and Genting Bhd rose three sen each to RM2.90, RM9.90, RM5.37 and RM4. 85.


CIMB, Sime Darby and Dialog Group jumped one sen each to RM4.69, RM2.17 and RM2.61.


For active stocks, D’nonce Technology rose one sen to RM61.5 sen, MMAg Holdings rose half -a -sen to 13 sen and Avillion fell 1.5 sen to 14.5 sen.


On the index board, the FBMT 100 Index rose 9.82 points to 10,874.95, the FBM 70 rose 30.46 points to 14,740.40 and the FBM ACE jumped 25.09 points to 7,204.21.


The FBM Emas Index gained 11.74 points to 11,168.36 and the FBM Emas Shariah Index rose 13.90 points to 12,258.27.


By sector, the Financial Services Index rose 5.47 points to 14,923.32, the Industrial Products and Services Index rose 0.29 points to 189.66 and the Plantation Index fell 11.24 points to 6,399.14.