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23rd July, 2008
SHARE PRICES on Bursa Malaysia closed higher yesterday with investors buying into selected heavyweights such as Sime Darby, Gamuda, Proton and Malaysia Airlines, dealers said.
At 5pm, the benchmark Kuala Lumpur Composite Index (KLCI) rose 6.09 points or 0.55 percent to 1,105.65 after opening 2.17 points higher at 1,105.65.
SJ Securities technical analyst, Phua Kwee Hock said the four counters helped boost the key index, with the KLCI moving between 1,103.85 and 1,112.51 throughout the day.
MAS was up as it stands to gain from the fall in oil price while Proton was up following news that the government is going to review the National Automotive Policy, he said. “It is good for them (Proton) to have a foreign partner,” he said.
According to Phua, Sime Darby was also high as it was riding on the strong crude palm oil price, which has yet to break its support level of RM3,000.
He added that if the Wall Steet is able to maintain its recent rise, the local market would follow suit.
At close, the Plantation Index gained 65.02 points to 6,303.01, the Industrial Index added 33.18 points to 2,388.47 and the Finance Index inched up 2.8 points to 8,416.72.
The FBMEmas rose 40.95 points to 7,370.63, the FBM30 advanced 40.64 points to 7,116.42, while the FBM2BRD dropped 0.54 of a point to 5,278.01 and the FBMMesdaq went down 24.62 points to 4,184.44.
In the moderate trading, gainers led losers 304 to 232 while 246 counters were unchanged, 580 untraded and 28 suspended.
Volume was slightly lower at 329.505 million shares valued at RM783.748 million from 374.947 million shares valued at RM912.177 million on Monday.
Volume on the Main Board fell to 278.962 million shares worth RM768.655 million from yesterday’s 319.529 million shares worth RM900.047 million.
Turnover on the Second Board increased to 15.088 million units valued at RM10.641 million compared with Monday’s 13.418 million units valued at RM7.369 million.
On the Mesdaq Market, turnover improved to 19.075 million shares worth RM3.889 million from 17.826 million shares worth RM2.976 million previously.
Call warrants dropped to 16.378 million shares valued at RM561,881 against 24.174 million shares worth RM884,538 before.
Direct business deals increased to 18.696 million shares worth RM22.468 million from 7.107 million shares valued at RM5.393 million on Monday.
IOI Corp led the actives list, rising five sen to RM5.55 followed by Resorts which gained three sen to RM2.57 and Gamuda which advanced 10 sen to RM2.69.
AMMB slipped one sen to RM2.95 and KNM-CA was unchanged at 4.5 sen while KNM increased five sen to RM5.15.
Among the heavyweights, Sime Darby rose 25 sen to RM7.85, Public Bank fell 20 sen to RM10.10, Maybank was flat at RM7.10 while Tenaga Nasional and IOI Corp gained five sen each to RM7.90 and RM5.55 respectively.
MAS and Proton each gained eight sen to end at RM3.34 and RM3.14 respectively.
On a sectoral basis, consumer products accounted for 14.311 million shares traded on the Main Board, industrial products 30.958 million, construction 28.787 million, trade/services 81.726 million, technology 2.751 million, infrastructure 4.512 million, finance 27.039 million, hotels 2.486 million, properties 24.57 million, plantations 30.883 million, mining nil, REITS 2.594 million, closed/fund 153,000, ETF 1.488 million, and loans 26.698 million.
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