News

Plantation, O&G lift Bursa Malaysia higher, KLCI up almost 2 pct

By Zairina Zainudin

KUALA LUMPUR, Oct 6 -- Persistent buying momentum in the plantation and oil and gas (O&G) stocks amid growing optimism over a global economic recovery pushed Bursa Malaysia to close on a firm note today, with the benchmark index ending at almost a one-month high.

The FTSE Bursa Malaysia KLCI (FBM KLCI) rose 29.0 points or 1.9 per cent to finish at the day’s high of 1,559.42 compared with 1,530.42 at Tuesday’s close.

The index, which opened 0.95 of-a-point firmer at 1,531.37, moved in positive territory throughout the day with an intraday-low recorded at 1,531.13.

Gainers trounced decliners 612 to 433, while 582 counters were unchanged, 644 untraded, and 12 others suspended.

Turnover surged to 4.54 billion units worth RM3.44 billion compared with 3.97 billion units valued at RM2.69 billion on Tuesday. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI was mainly lifted by plantation and O&G heavyweights following the firmer crude palm oil (CPO) and crude oil prices.

“The FBM KLCI will see a strong resistance at 1,550, followed by 1,580. If it gets past the 1,550 level, the chances of going higher would be bigger,” he told Bernama, adding that the support level remained at 1,520.

The benchmark CPO futures contract on Bursa Malaysia Derivatives reached RM5,000 per tonne for the first time yesterday and closed at an all-time high of RM4,738 a tonne, while crude oil price stood at above the US$82-per-barrel mark.

Among the index-linked plantation and O&G counters, Sime Darby Plantation soared 54 sen to RM4.20, IOI Corp increased 31 sen to RM4.08, Kuala Lumpur Kepong surged RM1.72 to RM21.90, Dialog climbed 25 sen to RM2.69 and Petronas Chemicals garnered 14 sen to RM8.83.

As for other heavyweights, Maybank rose seven sen to RM8.08, IHH added two sen to RM6.62, Tenaga went up 12 sen to RM9.74, CIMB bagged 10 sen to RM4.82, and Public Bank was flat at RM4.06.

Of the actives, SC Estate gained three sen to 12 sen and Kanger inched up half-a-sen to six sen, while AT Systematization and Sapura Energy were flat at 5.5 sen and 10 sen, respectively.

On the index board, the FBM Emas Index rose 174.69 points to 11,454.44, the FBMT 100 Index climbed 175.55 points to 11,122.58, the FBM Emas Shariah Index jumped 245.96 points to 12,582.91, the FBM ACE advanced 60.81 points to 7,072.08 and the FBM 70 increased 115.06 points to 15,033.25.

Sector-wise, the Plantation Index added 512.99 points to 6,917.23, the Industrial Products and Services Index improved 3.14 points to 208.18, while the Financial Services Index strengthened 102.64 points to 15,204.67.

The Main Market volume improved to 2.99 billion shares worth RM3.07 billion compared with 2.78 billion shares worth RM2.36 billion on Tuesday.

Warrants turnover decreased to 375.76 million units worth RM51.82 million against 389.6 million units valued at RM66.68 million yesterday.

The volume on the ACE Market surged to 1.17 billion shares worth RM321.37 million from 795.76 million shares worth RM263.87 million previously.

Consumer products and services counters accounted for 429.75 million shares traded on the Main Market, industrial products and services (973.98 million), construction (83.28 million), technology (271.5 million), SPAC (nil), financial services (62.55 million), property (220.77 million), plantation (168.51 million), REITs (6.66 million), closed/fund (47,100), energy (597.53 million), healthcare (51.3 million),  telecommunications and media (34.5 million), transportation and logistics (77.99 million) and utilities (18.38 million).

-- BERNAMA

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