What's the Story of Bursa Malaysia After the Covid-19 Daily Case Continues to Rise?

 Bursa Malaysia opened higher in today's trading session following support from market sentiment which saw a resurgence.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 4.25 points to 1,495.58 from 1,491.33 during the market close on Wednesday.

Bernama reported that the key index opened 2.32 points higher at 1,493.65.

On the broader market, gainers outnumbered losers by 168 to 127, while 252 counters were unchanged, 1,645 untraded and 10 others suspended.

Turnover stood at 180.9 million units worth RM89.29 million.

Malacca Securities said the local bourse exhibited an outflow of foreign funds for nine consecutive trading sessions following the negative stance on the market as a whole.

Recently, the announcement by the Prime Minister on the resumption of the parliamentary session in September and the increase in vaccination rates helped reduce uncertainty in the market.

Brokerage firms issued expectations that the perceived stable utility sector is likely to be the focus at a time when the market is flooded with overall negative sentiment.

Meanwhile, the technology sector is likely to show higher gains after the Nasdaq recorded an increase yesterday.

For heavyweights, Maybank rose two sen to RM8.03, Public Bank rose three sen to RM3.99 and Petronas Chemicals rose nine sen to RM8.09.

Meanwhile, IHH Healtcare was flat at RM5.71 and TNB fell seven sen to RM9.76.

For active stocks, Dagang Nexchange and BTM added 1.5 sen each to 77 sen and 25 sen, SBC jumped 10 sen to 61 sen and Saudee and Matang rose half-a-sen each to 9.5 sen, respectively.

On the index board, the FBM Gold Index gained 34.29 points at 10,989.75, the FBMT 100 Index rose 30.32 points to 10,699.58 and the FBM ACE rose 21.63 points to 7,104.1.

The FBM 70 rose 41.08 points to 14,587.331, and the FBM Emas Shariah Index jumped 22.44 points to 12,054.36.

By sector, the Financial Services Index increased 86.47 points to 14,801.14, the Industrial Products and Services Index added 0.78 points to 188.29 and the Plantation Index declined 2.69 points to 6,063.76.

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