Business

Bursa ends higher led by telcos and banking heavyweights

November 28, 2012

KUALA LUMPUR, Nov 28 – Bursa Malaysia ended higher today led by telcos and key banking heavyweights, a dealer said.

As at 5.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.35 points to 1,606.52, after opening 5.34 points lower at 1,592.83.

The market’s barometer index moved between 1,590.67 and 1,607.22 in trading today.

Mercury Securities Head of Research Edmund Tham said investors are anticipating good financial results from telcos which will announce their quarterly performance soon.

Axiata rose 25 sen to RM5.87, Maxis and Telekom Malaysia chalked up 13 sen each to RM6.50 and RM5.50 respectively, and Digi gained 20 sen to RM4.75.

Edmund said the market was dominated by local institutional funds amid low participation from retail investors.

“Local funds controlled 50-60 per cent of the day’s transaction,” he said.

Losers slightly outpaced gainers by 358 to 343, while 333 counters were unchanged, 630 untraded and 45 others suspended.

Volume rose to 1.2 billion shares worth RM1.93 billion from yesterday’s 1.14 billion shares worth RM1.67 billion.

The Finance Index rose 45.17 points to 14,932.11 and the Plantation Index increased 69.53 points to 7,936.75, while the Industrial Index fell 37.46 points to 2,643.84.

The FBM Ace Index slipped 1.62 points to 4,190.38, while the FBM Emas Index firmed 51.54 points to 10,943.33 and the FBMT100 strengthened 52.4 points to 10,790.28. The FBM Mid 70 Index appreciated 40.85 points to 11,963.67. – Bernama

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