December 29, 2021

The Exchange Continued Slowly But Remained Positive Since The Beginning Of The Week

 At 9.05am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) reached 0.41 points at 1,540.30 from Tuesday's close of 1,539.89.

The index opened 0.5 points at 1,540.39.

It opened higher but there is expected to be moderate profit-taking activity due to consecutive gains over the past few days.

On the broader market, investors saw gainers outnumber losers by 141 to 106, while 206 counters were unchanged, 1,858 untraded and 37 suspended.

Total turnover at 76.25 million units worth RM51.69 million.

A note issued by Malacca Securities Sdn Bhd said the market was watching the condition of the Omicron Covid-19 variant which had resulted in flight cancellations in most countries despite mild symptoms.

In addition, they expect there to be moderate profit -taking activity in the local market however market trading activity may recover with the new development of stock trading stamp duty which limits downside risk to the broader market.

Heavyweights saw Petronas Chemicals Group Bhd (PetChem) rise 2 sen at RM8.90, Malayan Banking Bhd (Maybank) and IHH Healthcare remained at RM8.30 and RM6.78 while Public Bank Bhd lost 1 sen at RM4.17.

Active stocks saw Opcom Holdings Bhd drive 3 sen at RM1.01, Dagang NeXchange Bhd (DNeX) and Scope Industries Bhd collected 0.5 sen at 78 sen and 27.5 sen, Sern Kou Resource Bhd remained at 74 sen while Ecomate Holdings Bhd lost 0.5 sen at 50.5 sen.

On the index board, the FBM Emas index rose 5.40 points at 11,169.12, the FBMT 100 index added 4.09 points at 10,868.39 and the FBM Emas Shariah index rose 17.63 points at 12,029.93.

FBM 70 was up 10.7 points at 14,214.71 and FBM ACE added 17.35 points at 6,340.84.

The Products and Services Industry Index added 0.23 points at 201.26, the Plantation index drove 8.18 points at 6,585.63 and the Financial Services index declined 20.53 points at 15,551.96.