Mid-cap stocks boost mart
BURSA Malaysia ended firmer yesterday, supported by strong buying interests in mid-capitalised stocks. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 3.02 points higher at 1,802.61 after moving between 1,797.14 and 1,803.46.
Advancers led decliners by 434 to 287 while 340 counters were unchanged, 560 untraded and 14 suspended. Total volume improved to 1.756 billion shares valued at RM1.385 billion from last Friday's 1.491 billion shares valued at RM2.037 billion.
Interpacific Research Head of Research Pong Teng Siew said yesterday's trading saw most investors turning to mid-cap stocks as they found there was limited room for them to push up their positions.
"Blue-chips mostly fluctuated and the stocks did not move aggressively as the valuations are quite steady."
Pong said if the FBM KLCI managed to maintain its bullish trend this week, there was a possibility that it would break the all-time high closing of 1,810.
The Finance Index advanced 66.88 points to 16,875.94. The Industrial Index lost 0.38 point to 3,094.54 and the Plantation Index slipped 16.72 points to 8,413.03.
The FBM Emas Index rose 25.52 points to 12,556.69, FBMT100 Index improved 24.49 points to 12,286.5, FBM 70 Index jumped 44.84 points to 14,380.77 and the FBM ACE Index was 19.37 points higher at 5,548.86.
Among the actives, Hubline gained one sen to 6.5 sen and Hubline-Wa rose half-a-sen to two sen.
Meanwhile, on Bursa Malaysia Derivatives, the FBM KLCI futures contract ended higher, in line with the strong performance of the cash market.
Spot month October 2013 improved 6.5 points to 1,806, November 2013 rose 6.5 points to 1,805, December 2013 added seven points to 1,806 and March 2014 increased 8.5 points to 1,800. Bernama