Business

Bursa closes slightly higher

KUALA LUMPUR, Nov 29 – Share prices on Bursa Malaysia closed slightly higher today, as prices continue to recover after the recent oversold condition, dealers said.

As at 5.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.8 of-a-point to 1,607.32, after opening two points higher at 1,608.52.

The market’s barometer index moved between 1,607.9 and 1,612.73.

A dealer said buying interest in banking, telcommunication and oil and gas counters continued to lift the local market amid bullish external sentiments.

He said the market’s performance was in tandem with regional trend, boosted by positive news that the US’ political leaders were closing in on a budget deal to avoid a deficit reduction plan so-called “fiscal cliff”.

On the local front, losers led gainers 354 to 327, while 334 counters were unchanged, 643 untraded and 41 others suspended.

Volume fell to 884.74 million shares worth RM1.53 billion from yesterday’s 1.2 billion shares worth RM1.93 billion.

The Finance Index gained 15.569 points to 14,947.68, the Industrial Index rose 10.39 points to 2,654.23, but the Plantation Index fell 34.75 points to 7,902.

The FBM Ace Index dwindled 13.2 points to 4,177.18, while the FBM Emas Index garnered 8.92 points to 10,952.25, the FBMT100 added 11.46 points to 10,801.74 and the FBM Mid 70 Index jumped 41.46 points to 12,005.13. – Bernama

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