KUALA LUMPUR, Dec 24 — Bursa Malaysia maintained its positive momentum to finish higher today and above the key psychological level of 1,600, supported by persistent buying in utilities and industrial blue chips, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.79 points or 0.43 per cent to 1,602.99 compared with Monday’s close of 1,596.20.

The market bellwether opened 0.44 of-a-point firmer at 1,596.64, its intraday low, and steadily moved to its intraday high of 1,603.89 in the late afternoon session.

The broader market turned positive towards the end of trading, with gainers outpacing decliners 500 to 428, while 533 counters were unchanged, 962 untraded, and nine suspended.

Turnover slid to 2.01 billion units valued at RM1.54 billion from 2.37 billion units valued at RM2.04 billion yesterday.

UOB Kay Hian Wealth Advisors’ head of investment research Mohd Sedek Jantan said the FBM KLCI’s gains were predominantly led by utilities and industrial stocks, with 24 of the index’s constituents recording increases, while only two posted declines.

"The rally appeared to be largely fuelled by year-end window-dressing activities as institutional investors reposition their portfolios to enhance performance metrics ahead of the year-end.

"However, overall market activity was subdued, with trading volume only at 2.01 billion shares as many investors took an early break ahead of the Christmas holiday tomorrow,” he told Bernama.

Bursa Malaysia Bhd and its subsidiaries will be closed tomorrow, December 25, in conjunction with Christmas Day.

Among heavyweights, Maybank was flat at RM10.08, Public Bank gained three sen to RM4.55, CIMB rose two sen to RM7.97, Tenaga Nasional and YTL Power both put on eight sen to RM14.08 and RM4.19 respectively, and IHH Healthcare added five sen to RM7.08.

For active stocks, Winstar Capital rose 3.5 sen to 64 sen, Vanzo and JCY perked up 1.5 sen each to 18 sen and 52.5 sen respectively, Life Water bagged seven sen to 93 sen, while Sarawak Cable lost one sen to 14 sen.

On the index board, the FBM Emas Index garnered 33.90 points to 12,282.88, the FBM Emas Shariah Index climbed 24.54 points to 12,237.66, and the FBMT 100 Index advanced 34.64 points to 11,969.35.

The FBM ACE Index increased 34.29 points to 5,281.56 but the FBM 70 Index shed 6.42 points to 18,375.27.

Sector-wise, the Financial Services Index expanded 25.44 points to 18,883.73, the Industrial Products and Services Index edged up 0.09 of-a-point to 170.38, the Energy Index rose 11.84 points to 815.06, and the Plantation Index put on 20.87 points to 7,508.68.

The Main Market volume fell to 1.05 billion units worth RM1.36 billion from 1.18 billion units worth RM1.82 billion on Monday.

Warrants turnover dwindled to 562.60 million units valued at RM56.40 million versus 722.88 million units valued at RM72.14 million previously.

The ACE Market volume tumbled to 399.02 million units worth RM128.45 million compared to 464.10 million units worth RM145.75 million yesterday.

Consumer products and services counters accounted for 169.51 million shares traded on the Main Market, industrial products and services (214.25 million), construction (72.49 million), technology (222.05 million), SPAC (nil), financial services (37.37 million), property (120.50 million), plantation (19.15 million), REITs (8.70 million), closed/fund (42,000), energy (78.03 million), healthcare (44.84 million), telecommunications and media (14.34 million), transportation and logistics (20.35 million), utilities (31.02 million), and business trusts (22,300). — Bernama