The local bourse’s benchmark index continued its advance to end Wednesday’s trade up in tandem with the region’s bourses, which all gained. The European markets followed through and were in positive territory in mid-morning trade.Bursa Malaysia shares closed up 1.28 per cent today driven by strong gains in property and construction stocks and selected blue-chips, dealers said.
The Kuala Lumpur Composite Index gained 13.37 points to 1,057.85. Advancers outpaced losers 594 to 120. There were 1.35 billion shares done with a total value of RM1.33 billion.
“Sentiment was distinctly more bullish today as some local funds embarked on a bargain-hunting spree for attractively priced stocks,” a dealer noted. Among plantation stocks, IOI gained 10 sen to RM4.62, Sime added 5 sen to RM6.80, PPB fell 20 sen to RM11.10 and Sarawak Plantation rose 16 sen to RM2.08.
Consumer stocks Nestle added 25 sen to RM31.25 and BAT lost 25 sen to RM43.50. Bank stocks Maybank added 15 sen to RM5.75 while BCHB was 5 sen higher at RM8.80. LPI added 20 sen to RM11 and Allianz rose 24 sen to RM4.12.
DiGi dropped 10 sen to RM21.90 and Axiata rose 9 sen to RM2.29 while highway concessionaires Plus added 6 sen to RM3.20 and Litrak fell 11 sen to RM2.47. Ta Ann fell 12 sen to RM4.02 and CB Industrial rose 16 sen to RM3.18.Genting advanced 30 sen to RM5.70, KFC rose 20 sen to RM6.90 and Tan Chong tumbled 19 sen to RM1.71. MISC dropped 10 sen to RM8.60 while its foreign tranche fell 15 sen to RM8.60. TNB was 15 sen higher at RM7.55 and Petronas Gas dropped 5 sen to RM9.75.
Nymex crude oil was down 10 cents to US$69.14 per barrel.Crude palm oil third-month futures dropped RM30 to RM2,256 per tonne. The ringgit was quoted at 3.537 to the US dollar.
The key KLCI index is tipped to trade between 1,046 and 1,070 points tomorrow
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