KLCI futures close higher

KLCI futures close higher
Business & Markets 2013
Written by Bernama
Wednesday, 24 July 2013 18:45

KUALA LUMPUR (July 24): The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives closed steadier today as investors took the cue from the bullish underlying cash market, dealers said.

Phillips Futures Analyst Tan Sek Wei said the FTSE Bursa Malaysia KLCI futures extended their gains on Wednesday as some funds were stepping in to buy heavyweight stocks amid positive external sentiment.

"The index opened high at 1,810.5, and then at the same point the sellers push it lower to 1,808.

"However, by the end of the day, buyers had enough strength to push the stock at near top of the range to close at 1,813.5," he told Bernama.

At the close, spot month July 2013 rose 5.5 points to 1,813.5, August 2013 improved five points to 1,814.5 while both September 2013 and December 2013 gained 4.5 points each to 1,811, respectively.

Turnover increased to 4,968 lots from 4,752 lots on Tuesday, while open interest improved to 42,640 contracts from yesterday's 42,636 contracts.

The underlying FBM KLCI closed 4.69 points higher to hit a new all-time high of 1,810.