Bursa ended broadly higher on bargain-hunting activities
BURSA Malaysia’s key index ended broadly higher as investors took the opportunity to hunt for bargains today, said an analyst.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 10.32 points, or 0.68%, to 1,539.34 from Wednesday’s close of 1,529.02.
The index, which opened 3.31 points higher at 1,532.33, moved between 1,531.18 and 1,539.73 throughout the day.
Market breadth was positive with gainers outpacing decliners 625 to 419, while 423 counters were unchanged, 835 untraded, and five others suspended.
Turnover rose to 4.74 billion units worth RM3.54 bil from Wednesday’s 4.12 billion units worth RM3.16 bil.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng reckoned that the FBM KLCI continued to see some buying support from foreign funds.
“Nonetheless, market undertone remains cautio