It Looks Like Low Priced Stocks Are Back In The Hunt!

 Bursa Malaysia opened lower in today's trading session as buying interest was seen declining despite Wall Street's overnight performance showing a more stable movement.

But as of 9.40am, the FTSE Bursa Malaysia KLCI (FBM KLCI) index jumped 2.94 points to 1,573.07 from 1,570.13 at the close on Monday.

Bernama reported that the key index traded 0.58 points lower at 1,569.55.

On the broader market, gainers outnumbered losers by 198 to 144, while 279 counters were unchanged, 1,647 untraded and six others suspended.

Turnover stood at 166.81 million units worth RM87.51 million.

Malacca Securities said the market is likely to see potential low -value stock hunting activity this week following Wall Street's return on a positive note.

In addition, it was also supported by stability in the local political landscape after the signing of a memorandum of understanding between the federal pact and Pakatan Harapan yesterday.

Plantation, oil and gas counters are expected to gain focus due to stronger commodity prices with crude palm oil, crude oil and aluminum prices continuing to rise.

Add brokerage firms, hunting activities for low value stocks will continue on recovery stocks such as banking, consumer and tourism especially in the domestic travel segment.

For heavyweights, Maybank remained at RM8.30, Petronas Chemicals jumped three sen to RM8.02 and Public Bank and CIMB declined two sen each to RM4.04 and RM4.82.

For active stocks, Kejuruteraan Asastera rose one sen to 39.5 sen, DataPrep Holdings rose four sen to RM1.19 while Avillion and Tanco Holdings were flat at 15.5 sen and 23.5 sen respectively.

On the index board, FBM 100 added 0.18 points to 11,172.87, FBM 70 increased 22.03 points to 15,020.65 and FBM ACE jumped 5.0 points to 7,224.11.

FBM Emas rose 2.20 points to 11,483.56 and FBM Emas Shariah added 12.53 points to 12,582.14.

By sector, the Financial Services index declined 28.82 points to 15,344.73, the Industrial Products and Services index rose 0.94 points to 201.58 and the Plantation index increased 8.57 points to 6,589.64.

Previous Post Next Post