Shares finished higher on Bursa Malaysia today with the FTSE Bursa Malaysia KLCI's (FBM KLCI) closing at a new high of
1,814.11 points, surpassing the previous all-time of 1,810 recorded on July 4, dealers said.
The market barometer, which gained 10.53 points from yesterday's close, fluctuated between 1,805.64 and 1,817.93 throughout the day.
Interpacific Research Head of Research Pong Teng Siew said the better performance was lifted by persistent buying in selected blue chips and key heavyweights, led by SapuraKencana, ahead of Friday's 2014 Budget announcement.
Contributing 2.375 points to the key index, SapuraKencana's share surged 22 sen or 5.39 per cent to RM4.30 with 50.243 million lots actively traded.
"Market players are confident the 2014 Budget will be a good as they envisage the government will put in place a variety of measures to raise revenue.
"The speculation on subsidy cuts and new tax reforms to boost the country's revenue also helped lift sentiment on the local bourse today," he told Bernama.
Pong said the day's trading was mainly dominated by local institutional investors and attractive stocks were related to government-linked companies, small capitalised, as well as, oil and gas-related counters.
"Should the buying momentum continue until Friday, the local bourse is likely to breach its all-time high of 1,826.22 points recorded on May 6," he added.
On the scoreboard, the Finance Index increased 18.08 points to 16,853.19, the Industrial Index gained 14.94 points to 3,115.3 and the Plantation Index rose 39.6 points to 8,468.61.
The FBM Emas Index chalked up 61.63 points to 12,619.72, the FBMT100 Index soared 60.42 points to 12,345.66 and the FBM 70 Index added 23.86 points to 14,370.63.
However, the FBM ACE Index fell 27.54 points to 5,535.42.
Market breadth was positive with gainers thumping losers 474 to 330, while 341 counters were unchanged, 478 untraded and 15 others were suspended.
Total volume slipped to 1.711 billion shares, valued at RM2.123 billion, from yesterday's 1.852 billion shares valued at RM1.825 billion.
Among actives, China Stationery gained 1.5 sen to 23.5 sen, Xidelang perked 2.5 sen to 38 sen while The Media Shoppe was flat at 8.5 sen.
Of heavyweights, CIMB added seven sen to RM7.66, both Maybank and
Petronas Chemicals added one sen each to RM9.96 and RM7.12, respectively, while Axiata Group was flat at RM6.91 but Sime Darby lost two sen to RM9.56.
Volume on the Main Market declined to 1.391 billion units, valued at RM2.049 billion, from 1.485 billion shares, valued at RM1.753 billion, registered on Tuesday.
Turnover on the ACE market narrowed to 279.576 million units, worth RM67.684 million, from yesterday's 327.212 million units worth RM66.859 million.
Warrants rose to 37.226 million shares, valued at RM5.108 million, from 33.346 million shares, valued at RM3.272 million, transacted yesterday.
Consumer products accounted for 260.827 million shares on the Main Market, industrial products 166.917 million, construction 43.632 million, trade and services 516.639 million, technology 101.062 million, infrastructure 32.727 million, SPAC 24.133 million, finance 61.139 million, hotels 5.375 million, properties 152.893 million, plantations 18.361 million, mining 24,600, REITs 7.492 million and closed/fund 95,900.-- Bernama