November 15, 2021

Wall Street Boosts Buying Sentiment, Exchanges Open Higher

 At 9.05am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 2.88 points at 1,534.10 from Friday's close of 1,531.22 driven by gains in the Wall Street stock market which boosted buying sentiment for the local equity market.

The index opened 0.16 points higher at 1,531.38.

On the broader market, investors saw gainers outnumber losers by 189 to 164, while 249 counters were unchanged, 1,712 untraded and 21 suspended.

Total turnover at 209.22 million units worth RM103.06 million.

The note issued by Malacca Securities Sdn Bhd expects sentiment in the broader market to remain positive while the KLCI may extend its rebound formation with continued buying from external funds.

He added that investors could focus on the banking sector, consumer -related sectors and real estate while gold proxies may expect further gains amid strengthening gold prices.

Heavyweights saw Malayan Banking Bhd (Maybank) up 8 sen at RM8.19, Public Bank Bhd unchanged at RM4.02 and Petronas Chemicals Group Bhd (PetChem) up 3 sen at RM8.34.

Active stocks saw NWP Holdings Bhd and Dagang NeXchange (DNeX) rise 0.5 sen to 36 sen and 84.5 sen respectively while Kanger International Bhd was flat at 3.5 sen.

The most profitable stocks were Nestlé (Malaysia) Bhd which rose RM1 to RM135, Genetec Technology Bhd which jumped 80 sen to RM44.30 and Batu Kawan Bhd which rose 36 sen to RM22.18.

Meanwhile, trading in shares and warrants of Yinson Holdings Bhd was suspended with effect from 9am Monday and resumed from 10am.

On the index board, the FBM Emas index rose 21.90 points to 11,350.75, the FBMT 100 index increased 20.53 points to 10,987.84, the FBM Emas Shariah index rose 27.46 points to 12,367.48 while the FBM ACE declined 4.75 points to 6,973.24 and the FBM 70 jumped 27.63 points to 15,030.17.

The Industrial Products and Services index decreased 0.16 points at 201.51, the Plantation index increased 19.74 points at 6,692.68 and the Financial Services index increased 48.22 points at 15,253.93.