KUALA LUMPUR, March 20 ― Shares on Bursa Malaysia were higher at mid-morning, lifted by strong gains in banking stocks, with the benchmark index jumping 2.8 per cent higher today.
At 11.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 34.19 points to 1,253.91 from yesterday’s close of 1,219.72, after opening 0.82 points higher at 1,220.54 this morning.
On the broader market, gainers edged losers 576 to 188, with 227 counters unchanged, 1,027 untraded and 16 others were suspended.
Turnover amounted to 1.36 billion shares worth RM817.64 million.
Banking stocks made the most gains after Bank Negara Malaysia announced a 100-basis-point cut in the statutory reserve requirement (SRR) ratio to two per cent from three per cent, effective today, in an effort to release RM30 billion into the banking system.
Among index-linked banking stocks, Maybank added 13 sen to RM7.21, Public Bank jumped 98 sen to RM13.64, CIMB gained 14 sen to RM3.28, Hong Leong Bank rose 34 sen to RM12.32 and RHB Bank was 12 sen higher at RM4.40.
Other heavyweights, Tenaga rose 22 sen to RM11.54, IHH eased four sen to RM5.11, Maxis inched up nine sen to RM4.77 and Petronas Chemicals was six sen better at 4.17.
Among the actives were Sapura Energy, which gained half-a-sen to seven sen, Vortex was flat at 2.5 sen and Hibiscus Petroleum rose three sen to 29 sen.
Dominating the top gainers’ list were consumer stocks such as Nestle, which jumped RM1.20 to RM138.20, Heineken surged 88 sen to RM18.78 and Carlsberg was 76 sen higher at RM18.64.
Among the top losers were F&N, which lost 30 sen to RM28, Shangri-La declined 21 sen to RM4.40 and Harrisons erased 20 sen to RM3.
On the index board, the FBM Emas Index appreciated 232.75 points to 8,490.53, the FBM Emas Shariah Index jumped 196.02 points to 9,316.52 and the FBM 70 was 248.73 points higher at 9,442.9.
The FBMT 100 Index increased 228.58 points to 8,443.21 and the FBM Ace appreciated 152.27 points to 3,352.
Sector-wise, the Industrial Products and Services Index inched up 1.91 points to 94.43, the Financial Services Index recovered 387.31 points to 11,272.77 and the Plantation Index was 166.80 points higher at 5,698.83. ― Bernama