InstaForex

August 26, 2021

Thats it! Stock Trading Continues to Maintain an Aggressive Rhythm

 Like a rainbow that appeared after the rain, local investors continued to rejoice as exchange trading continued to hit a 5-day high.


The Bursa Malaysia market continued to open higher today following the buying momentum which was seen to remain sustained due to positive market sentiment as well as strong commodity and oil prices.


At 9.57am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index ‘rocketed’ 14.73 points to 1,584.53 from 1,569.80 during the market close on Wednesday.


According to Bernama, the key index traded 0.92 points higher at 1,570.72.


On the broader market, gainers outnumbered losers by 246 to 181, while 290 counters were unchanged, 1,535 untraded and 23 others suspended.


Turnover saw an increase to 313 million units worth RM159 million.


According to Malacca Securities, foreign investors acquired local equity worth RM236.5 million yesterday and was the highest daily net purchase since mid -June.



Although major indices continue to show an uptrend, investors also need to be vigilant if profit taking activity occurs following excessive surge momentum.


He added that investors are expected to remain focused on recovery stocks under the construction and building materials segments.


Of the heavyweights, Petronas Chemicals rose 23 sen to RM8.38, Sime Darby rose eight sen to RM2.34, Press Metal rose six sen to RM5.30, while MISC and TM jumped nine sen to RM7 and RM6 respectively. 05.


Maybank declined one sen to RM8.32 and Public Bank rose one sen to RM4.11.


For active stocks, Ta Win rose two sen to five sen, Parkson jumped three sen to 22.5 sen and BCM Alliance and Scope Industries fell two sen to 7.5 sen and 34.5 sen respectively.


On the index board, the FBM Emas Index jumped 22.57 points to 11,472.03, the FBM Emas Shariah Index rose 38.72 points to 12,590.62 and the FBM ACE fell 21.89 points to 7,267.23.


The FBMT 100 index rose 22.07 points to 11,180.66 and the FBM 70 rose 7.52 points to 14,941.16.


By sector, the Financial Services Index fell 23.62 points to 15,358.33, the Industrial Products and Services Index rose 2.29 points to 196.88 and the Plantation Index rose 29.96 points to 6,692.97.