Ahead of exchange closure tomorrow, the benchmark KLCI at midday surged 6.06 points to 1,602.26 points, from Monday’s close of 1,596.20 points.
Throughout the half-day session, the key index fluctuated within a range of 6.93 points, from1,596.64 points to 1,603.57 points.
Market analysts noted that overnight US market closing higher had stimulated market sentiment locally, fuelling KLCI to rally beyond the 1600-point threshold at midday.
This morning, the benchmark index opened 0.44 of a point higher during the opening session. The market gained momentum and pushed up the index by 2.56 points to reach 1,598.76 points as at 9:07am.
The key index continued to trade higher in late morning, adding 5.58 points to 1,601.78 points as at 10:18am.
The upward trend largely remained until the conclusion of the half-day session to advance the index above the 1600-point support level.
Sector-wise, the Telecommunications & Media Index led sector indices, gaining 0.77% to 536.45 points, followed by the Energy Index which advanced 0.55% to 807.60 points, and the Utilities Index which moved up 0.45% to 1,762.31 points.
The Construction Index recorded the biggest decline at midday, losing 0.60% to 299.23 points, while the Property Index slipped 0.53% to 1,080.82 points.
Main board’s technology listing Genetec Technology Bhd was the most traded stock at midday, recording a turnover of 36,179,800 shares/units. The counter added seven sen, or 5.65%, to reach RM1.31.
Meanwhile, ACE market-listed Initial Public Offering (IPO) Vanzo Holdings Bhd was the second most traded stock at midday. Listed on Dec 17 at the issuance price of RM0.15 per share, the producer and distributor of car and household fragrance traded up 1.5 sen, or 9.09%, to RM0.18, on a volume of 26,956,800 shares/units. Since its listing, the counter has gained 20% in share value.
Winstar Capital Bhd, which was the most traded stock yesterday, continued to be active at midday. Also newly-listed on the ACE market on Dec 19, the aluminium extruder and product manufacturer recorded a half-day volume amounting to 24,769,900 shares/units, adding 3.5 sen to reach RM0.64 which w,as 29 sen above its IPO issuance price of RM0.35 per share, reflecting a gain of 82.9% in stock value.
Unsurprisingly, on the eve of the season holiday, the top five midday gainers and top five midday decliners recorded relatively low trading turnover. The top five midday gainers collectively registered an aggregate volume of 149,200 shares/units, while the top five decliners recorded a total trading volume of ,1368,400 shares/units.
Foodstuff supplier Nestle (Malaysia) Bhd was the top gainer which added 40 sen to RM98.20 on a moderate volume of 52 lots. (1 lot=100 shares). On the other hand, semiconductor manufacturer Malaysian Pacific Industries Bhd slipped 24 sen to RM25.50 on a turnover of 51 lots.
MBM Resources Bhd, an auto and autoparts distributor listed under the consumer category of the Main board shed 13 sen to RM5.88, recording 831,400 shares/units in trading volume. Sunway Construction Group Bhd gave up 11 sen to RM4.57 on a turnover of 502,900 shares/units.
At midday, decliners led gainers by 453 to 373, while 472 counters were unchanged.
The half-day exchange-wide turnover totalled at over 1.31 billion (1,312,416,900) shares/units valued at nearly RM853.23 million (RM853,228,622).
