Rakuten Trade vice-resident Thong Pak Leng said the improved trading volume suggests that confidence is gradually returning, with more participants re-entering the market.
“Although the gains were modest, the combination of a positive close and healthier volumes provides a constructive signal that the index may be building a stronger base. With sentiment turning more upbeat, the market looks better positioned (for) an upward bias, as investors await new catalysts to fuel further momentum,” he told Bernama.
Hence, Thong maintains the weekly FBM KLCI target at between 1,580 and 1,620 points.
At 5pm, the FBM KLCI edged up 0.21 of-a-point to close at 1,603.55, compared with yesterday’s close of 1,603.34. The benchmark index opened higher at 1,604.90 and moved between 1,602.03 and 1,608.49 throughout the day.
The market breadth was positive, with gainers outpacing losers 565 to 460 while 521 counters were unchanged, 1,098 untraded and 37 suspended.
Turnover improved to 3.18 billion units worth RM2.36 billion from 2.78 billion units worth RM2.27 billion yesterday.
Among the heavyweights, Public Bank added one sen to RM4.28, but Maybank, CIMB and Tenaga Nasional dropped two sen each to RM9.82, RM7.29 and RM13.40, respectively. IHH Healthcare was flat at RM7.36.
In active trade, ACE Market debutant JS Solar soared nine sen to 40 sen, while Pharmaniaga and NexG edged up one sen each to 27 sen and 51 sen, respectively. XOX Technology climbed three sen to 6.5 sen, and SFP Tech was 1.5 sen better at 17.5 sen.
Top gainers included PJBumi, which gained 48 sen to RM2.70, while KSL Holdings firmed up 28 sen to RM2.94, and KESM Industries surged 25 sen to RM3.63. Malaysian Pacific Industries bounced 22 sen to RM29.50, and Fraser & Neave expanded 20 sen to RM27.40.
Among top decliners, United Plantations fell 66 sen to RM22.88, Petronas Dagangan lost 30 sen to RM22, and Dutch Lady Milk Industries eased 14 sen to RM27.04. UWC and BLD Plantation lost 10 sen each to RM3.63 and RM10.86, respectively.
On the broader market, the FBM Emas Index gained 16.51 points to 11,943.01, the FBMT 100 Index rose 9.93 points to 11,686.54, and the FBM ACE Index bounced 32.40 points to 5,006.30. The FBM 70 Index climbed 50.60 points to 16,801.71, and the FBM Emas Shariah Index gained 26.06 points to 11,998.01.
By sector, the energy index added 5.12 points to 764.49, the industrial products and services index edged up 0.88 of-a-point to 170.06, but the financial services index dipped 6.43 points to 18,083.77 while the plantation index gave up 41.06 points to 7,726.82.
The Main Market volume advanced to 1.52 billion units, valued at RM2.01 billion, from 1.47 billion units valued at RM1.97 billion yesterday.
Warrants turnover expanded to 1.08 billion units, valued at RM166.49 million, from 895.48 million units valued at RM148.25 million previously.
The ACE Market volume strengthened to 560.33 million shares worth RM182.24 million, from 405.44 million shares worth RM157.95 million on Monday.
Consumer products and services counters accounted for 303.41 million shares traded on the Main Market, industrial products and services (250.49 million), construction (132.75 million), technology (240.66 million), financial services (57.66 million), property (172.34 million), plantation (22.3 million), REITs (16.18 million), closed/fund (416,100), energy (109.86 million), healthcare (128.73 million), telecommunications and media (25.95 million), transportation and logistics (26.06 million), utilities (35.79 million), and business trusts (1.70 million).