Bursa ends higher on renewed interest in selected heavyweights

KUALA LUMPUR: Bursa Malaysia’s key index reversed early losses to end higher today on renewed interest in utilities, as well as industrial product and services stocks amid the mixed performance by regional peers.

UOB Kay Hian Wealth Advisors head of investment research Sedek Jantan said the utilities index led Bursa Malaysia’s sectoral indices today, reflecting increased optimism and potential within the industry.

This was after news reports that a local energy firm recently received approval to operate as a merchant generator, allowing it to sell energy from a planned 29.99-megawatt facility in Kedah.

“This aligns with the sector’s shift towards renewable energy and strengthens the company’s competitive advantage, which has positively influenced other stocks within the utilities sector,” he told Bernama.

Sedek said the broader market movement remained modest today as Wall Street took a pause following a week-long rally.

He opined that investors are now awaiting the release of key inflation data scheduled for later today.

“The Consumer Price Index (CPI) report is likely to attract heightened attention after September’s data showed slightly elevated levels.

“Market participants are also closely monitoring the upcoming announcements of appointments within Donald Trump’s cabinet,” he added.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.07 points to close at 1,611.50 from yesterday’s close of 1,608.43.

The benchmark index, which opened 0.18 of-a-point higher at 1,608.61, moved between 1,602.71 and 1,611.54 during the trading session.

However, the market breadth was negative with decliners leading gainers 565 to 435, while 514 counters were unchanged, 940 untraded and 13 suspended.

Turnover narrowed to 2.82 billion units valued at RM2.22 billion versus 2.99 billion units worth RM2.54 billion yesterday.

Among the heavyweights, Public Bank rose 3 sen to RM4.47, Tenaga Nasional gained 30 sen to RM14.40, CIMB Group was flat at RM8.20, while Maybank lost 6 sen to RM10.42 and IHH Healthcare decreased 2 sen to RM7.17.

Among the active stocks, newly-listed Life Water gained 29 sen to 94 sen, 3REN was flat at 41 sen, while Mpire Global gave up 0.5 sen to 21 sen, Johor Plantations dipped 20 sen to RM1.25, and Mega Fortris shed 4 sen to 59 sen.

On the index board, the FBM Emas Shariah Index garnered 16.89 points to 12,164.52, the FBM Emas Index rose 25.66 points to 12,205.71, the FBMT 100 Index expanded 24.93 points to 11,910.84, the FBM 70 Index increased 45.74 points to 17,842.27, and the FBM ACE Index climbed 9.74 points to 5,141.61.

Sector-wise, the energy index shed 3.4 points to 821.56, the plantation index slid 159.80 points to 7,720.16, the financial services index put on 47.29 points to 19,191.62, and the industrial products and services index eased 0.34 of-a-point to 169.24.

The Main Market volume trimmed to 1.43 billion units worth RM1.95 billion against yesterday’s 1.45 billion units valued at RM2.25 billion.

Warrants turnover slipped to 1.01 billion units valued at RM114.69 million from 1.1 billion units worth RM128.82 million previously.

The ACE Market volume dwindled to 384.56 million units worth RM148.83 million compared with 438.04 million units valued at RM156.28 million yesterday.

Consumer products and services counters accounted for 503.73 million shares traded on the Main Market, industrial products and services (265.34 million), construction (71.89 million), technology (122.75 million), SPAC (nil), financial services (58.5 million), property (135.74 million), plantation (101.64 million), REITs (16.08 million), closed/fund (39,800), energy (44.17 million), healthcare (41.07 million), telecommunications and media (21.58 million), transportation and logistics (23.41 million), utilities (30.3 million), and business trusts (71,000).