Bursa likely to be higher next week

by **Cals** Sun 19 Jul 2015, 18:17

Bursa likely to be higher next week

Saturday, 18 July 2015

KUALA LUMPUR: Bursa Malaysia is expected to be higher next week but gains are likely to be minimal on lack of major domestic catalyst, said a dealer.
The uptrend is expected to be supported by positive global sentiment such as Greece's bailout deal and Iran's nuclear deal.
"However, domestically there is lack of major catalysts to uplift market fundamentals and this may lead to some profit taking activities," he said, adding that the FBM KLCI would trade between 1,720 and 1,760 next week.
Meanwhile, the market ended mostly higher this holiday-shortened week as the the local bourse was closed on Friday for the Hari Raya Aidilfitri festives.
On a weekly basis, the FTSE Bursa Malaysia KLCI finished at 1,726.73, up 11.15 points, from last Friday's 1,715.58.
The FBM Emas Index rose 86.36 points to 11,888.44, the FBMT100 Index gained 80.75 points to 11,577.40 and the FBM Emas Shariah Index appreciated 53.73 points to 12,331.80.
The FBM 70 advanced 111.5 points to 12,798.84 while the FBM Ace expanded 50.54 points to 6,163.02.
Sector-wise, the Finance Index increased 140.43 points to 15,532.5, the Industrial Index added 29 points to 3,190.95 and the Plantation Index appreciated 35.68 points to 7,504.46.
Weekly turnover reduced to 5.13 billion units, worth RM5.87 billion, from last Friday's 8.73 billion units worth RM8.89 billion.
Main market volume declined to 3.09 billion units, valued at RM5.17 billion, from 4.87 billion units, valued at RM7.70 billion, registered last Friday.
Warrant turnover narrowed to 1.19 billion units, worth RM465.83 million, from last week's 2.52 billion units worth RM830.23 million.
The ACE market eased to 843.61 million shares, worth RM236.67 million, versus 1.32 billion shares, worth RM355.69 million, registered previously. - Bernama