FBM KLCI higher at early session

KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) is slightly higher at the early session today amid mild buying interest in the heavyweights led by Petronas Chemicals and Maybank.

At 9.20am, the benchmark index inched up 0.66 of-a-point to 1,620.39, after opening 0.91 of-a-point to 1,620.64.

On the broader market, gainers outpaced decliners 176 to 82, while 212 counters remained unchanged, 1,438 untraded and 19 others suspended.

Turnover stood at 311.0 million shares worth RM179.04 million.

In a research note today, Maybank Investment Bank said bargain hunting would likely continue, particularly in recently beaten down stocks.

“Technically, we expect the FBM KLCI to continue to range between 1,610 and 1,640 today. Downside supports are at 1,615 and 1,600,” it added.

Of the heavyweights, Petronas Chemicals advanced six sen to RM8.99, Maybank gained three sen to RM9.03, CIMB added two sen to RM5.07 and PPB Group jumped 10 sen to RM18.90.

IHH Healthcare and Hong Leong Bank were flat at RM5.48 and RM19.94, respectively, while Public Bank eased six sen to RM22.52, TNB fell two sen to RM12.14 and Maxis went down one sen to RM5.40.

Of the actives, Iskandar Waterfront advanced 7.5 sen to 93.5 sen, Ekovest rose three sen to 62 sen, Sapura Energy and Vsolar Group were flat at 31.5 sen and 15 sen, respectively, while KNM shed one sen to 15.5 sen and Seacera shed 1.5 sen to 32 sen.

The FBM Emas Index appreciated 8.72 points to 11,475.84, the FBMT 100 Index went up 7.08 points to 11,305.17 and the FBM Ace Index improved 7.22 points to 4,671.7.

The FBM Emas Shariah Index was 4.01 points higher at 11,685.88, and the FBM 70 expanded 19.24 points to 14,325.37.

Sector-wise, the Plantation Index gave up 2.41 points at 7,216.27, the Financial Services Index rose 25.22 points to 16,709.58, and the Industrial Products and Services Index added 0.33 of-a-point to 168.14.