Bursa Malaysia ended the week on a firmer footing, with the FTSE Bursa Malaysia KLCI (FBM KLCI) closing at 1,691.49 on Friday, up 13.85 points or 0.83%, as financial heavyweights and stronger regional sentiment lifted the local market.
The benchmark began the week at 1,682.40 on July 6, trading around 1,680.18 in early dealings despite negative market breadth, with 190 decliners outnumbering 144 gainers. The index remained largely range-bound over the next few sessions, standing at 1,682.93 on July 7 before edging up to 1,683.61 on July 8.
Trading remained cautious heading into the final session of the week, but sentiment improved markedly on Friday. The FBM KLCI opened at 1,682.78 and climbed to an intraday high of 1,696.25 before settling at 1,691.49, extending gains from earlier in the day when the benchmark had risen as much as 1.03% by midday.
Financial services stocks spearheaded the rally, with the Financial Services Index advancing 93.58 points to 19,921.66. Plantation counters also strengthened, pushing the Plantation Index up 125.33 points to 9,202.31, while the FBM Emas Index gained 83.33 points to 12,523.81 as buying interest broadened across the market.
Trading activity improved on Friday, with 2.85 billion shares worth RM2.25 billion changing hands, compared with 2.64 billion shares valued at RM2.19 billion in the previous comparable session. Market breadth also turned positive, with 648 gainers outpacing 443 losers, while 581 counters were unchanged, 1,044 untraded and 25 suspended.
The broader market also ended the week on a stronger note, with the FBM FTSE 100 Index rising to 12,354.33, the FBM Emas Shariah Index advancing to 12,373.61 and the FBM 70 Index climbing to 17,858.47. The FBM ACE Index also posted gains, although the Energy Index edged lower, reflecting selective profit-taking in the sector.
