December 31, 2021

Momentum Ends, Stock Opens Lower On Last Day Of 2021

 At 9.05am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 2.14 points to 1,541.47 from Thursday's close of 1,543.61.

The index opened 0.62 points at 1,542.99.

It opened lower but the market is expected to see another year -end safe buying session if the current rebound momentum continues.

On the broader market, investors saw losers outnumber gainers by 119 to 114, while 210 counters were unchanged, 1,847 untraded and 31 suspended.

Total turnover at 118.36 million units worth RM39.27 million.

A note issued by Malacca Securities Sdn Bhd stated that in the near term, health stocks continue to gain attention due to concerns over Omicron but the market is expected to shift to a recovery -themed sector as Omicron's impact will not result in full travel restrictions for now.

Heavyweights saw Malayan Banking Bhd (Maybank) and Public Bank Bhd fall 1 sen at RM8.29 and RM4.14, Petronas Chemicals Group Bhd (Petchem) and IHH Healthcare remained at RM8.79 and RM6.78 respectively while CIMB Group Holdings Bhd fell 3 sen to RM5.38.

Active stocks saw SMTrack Bhd and WZ Satu Bhd rise 1 sen at 18.5 sen and 24.5 sen, Airasia Group Bhd warrants at 21 sen while NCT Alliance Bhd, Destini Bhd and KNM Group Bhd remained at 51.5 sen, 18 sen and 15 sen.

On the index board, FBM Emas Shariah declined 4.48 points at 12,075.63 and FBM ACE lost 13.09 points at 6,380.57, FBM Emas index fell 10.18 points at 11,179.87 and FBMT 100 index lost 9.90 points at 10,880.39.

Meanwhile, FBM 70 climbed 9.55 points at 14,246.49.

The Products and Services Industry Index added 0.14 points at 201.74, the Plantation index contracted 11.38 points at 6,577.10 and the Financial Services index decreased 228.36 points at 15,484.17.