KUALA LUMPUR: Bursa Malaysia closed on Wednesday with gains across nearly all sectors, as the main index continued its impressive one-year high winning streak.
The market responded favorably to the decision by Bank Negara Malaysia to maintain the overnight policy rate (OPR).
In contrast to varied performances in the regional market, the FTSE Bursa Malaysia KLCI (FBM KLCI) saw a positive trend by gaining 7.99 points, concluding the day at 1,504.10 compared to Tuesday's closing figure of 1,496.11.
The benchmark index started the day slightly higher at 1,497.16, and it consistently remained in positive territory, fluctuating between 1,497.16 and 1,504.44 throughout the day.
On the broader market, gainers outnumbered losers 690 to 360, while 431 counters were unchanged.
Turnover declined to 4.34 billion units worth RM2.88 billion from 5.16 billion units valued at RM3.33 billion on Tuesday.
In a note today, Malacca Securities Research said the FBM KLCI ended higher, despite the mixed regional markets performance, due to buying pressure in selected banking, utilities and industrial product heavyweights.
The firm added that the property sector was the leading sector, experiencing a 1.85% increase. It was led by SIME Darby Property Bhd, which was up by 3.5 sen, and IOI Properties Group Bhd, up by four sen.
The technology sector fell by 0.24 per cent due to selling pressure in Inari Amertron Bhd, down three sen, and Frontken Corp Bhd, down six sen.
The top three active stocks today were Malaysian Resources Corp Bhd (MRCB) which was up 4.5 sen to 58 sen, Widad Group Bhd down 0.5 sen to 18 sen, and YNH Property Bhd up 4.5 sen to 66 sen.