KUALA LUMPUR, Nov 6 (Bernama) -- Bursa Malaysia remained firm at midday as investors awaited the US presidential election results and Bank Negara Malaysia’s decision on the overnight policy rate (OPR) due later today.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.81 points, or 0.36 per cent, to 1,626.51 from Tuesday’s close of 1,620.70. The benchmark index opened 3.71 points higher at 1,624.41 and moved between 1,623.52 and 1,629.27 during the morning session.
The market breadth was also positive, with gainers outpacing decliners 591 to 349 while 437 counters were unchanged, 1,017 untraded, and nine suspended.
Turnover amounted to 1.64 billion shares worth RM1.10 billion.
Malacca Securities Sdn Bhd said markets are monitoring the American presidential election and the US Federal Open Market Committee (FOMC) interest rate decision tomorrow.
“With the positive close on Wall Street overnight, we anticipate that buying support may extend to the local bourse, particularly in the technology sector in the near term. Additionally, we favour the oil and gas sector given the rebound in crude oil prices, and we remain positive on glove stocks as the ringgit hovers around RM4.34 per US dollar,” it added.
Looking ahead, the brokerage said earnings in the construction sector could see a notable boost, driven by increased investments in data centres.
Among the heavyweight stocks, Tenaga Nasional surged 22.0 sen to RM14.30 and CIMB Group increased 5.0 sen to RM8.17. Maybank and Public Bank added 4.0 sen each to RM10.58 and RM4.47, respectively, while IHH Healthcare dropped two sen to RM7.29.
Among the actives, ACE Market debutant 3Ren surged 9.0 sen to 37.0 sen while Cape EMS and Crest Group added 1.0 sen to 37.0 sen and 35.0 sen, respectively. Top Glove rose 4.0 sen to RM1.12 while Aizo Group remained flat at 15.5 sen.
On the index board, the FBM Emas Index rose 65.67 points to 12,292.91, the FBMT 100 Index climbed 61.97 points to 12,000.79 and the FBM Emas Shariah Index gained 59.42 points to 12,244.23.
The FBM 70 Index advanced 162.84 points to 17,899.60 and the FBM ACE Index added 47.47 points to 5,116.55.
Sector-wise, the Financial Services Index rose 103.43 points to 19,270.96, the Industrial Products and Services Index edged up 0.70 of-a-point to 173.01 and the Energy Index added 1.04 points to 838.39. The Plantation Index expanded 31.60 points to 12,575.81.
-- BERNAMA
