Weekend Sustenance? Stock Exchange Relaxes After BNM Policy Meeting


 Buying interest at the banking counter led to a good opening of the local bourse after the Bank Negara Malaysia (BNM) MPC meeting yesterday.

At the opening, the FBM KLCI index opened 5.14 points at 1,424.52 before rising 3.83 points compared to Thursday's close at 1,420.38.

In the broader market, gains at 140 outpaced losses at 105, while 204 counters were unchanged, 1,877 untraded and 19 suspended.

Total turnover at 99.98 million units worth RM24.51 million.

According to Rakuten Trade Sdn Bhd, bargain-hunting activities are expected to push local equities higher today even though investor sentiment is somewhat cautious.

Based on that factor, the index is predicted to hover at 1,415-1,425 with banking counters expected to be the focus of buying.

Heavyweight stocks saw Hong Leong Bank Bhd rise 34 sen to RM20.78, Maybank gain 6 sen to RM8.47, Public Bank Bhd added 2 sen to RM4.38, RHB Bank Bhd gained 4 sen to RM5.52 and IHH Healthcare Bhd a jump of 5 sen at RM5.96.

Active shares showed Citaglobal Bhd and Green Packet Bhd remaining at 29 sen and 4 sen while AwanBiru Technology Bhd rose 1.5 sen to 51 sen, SNS Network Technology Bhd and Tanco Holdings Bhd gained 0.5 sen to 23.5 sen and 41 sen.

On the index board, the FBM Emas Index rose 21.41 points to 10,124.93, the FBM 70 increased 12.29 points to 12,071.99, the FBMT 100 index jumped 22.68 points to 9,860.87, the FBM Emas Shariah index added 8.05 points to 10,166.6 while the FBM ACE dropped 1.94 points to 4,884.49.

In terms of sectors, the Financial Services index rose 88.21 points at 16,143.85, the Energy index added 3.03 points at 711.07 while the Products and Services index dropped 0.16 points at 172.1 and Plantation fell 20.76 points at 6,696.27.