The FBM KLCI surged by midday today, buoyed by year-end window dressing in line with gains seen in most regional markets.
The market barometer surged 17.79 points (1.1%)K to 1,631.49, its highest since early November 2024. The index hit an early morning high of 1,632.63.
There were 506 gainers, 412 losers and 508 counters trading unchanged on Bursa Malaysia.
Volume stood at 1.72 billion shares worth RM1.16 billion.
TA Securities said moderate activity should help selected major index heavyweights move higher towards the weekend while trading activity remained muted due to the year-end holiday season.
The index's immediate resistance remains at 1,627, then 1,648, followed by the September peak of 1,675.
Tenaga Nasional (TNB) jumped 82 sen (5.78%) to RM15 with 12.51 million shares traded individually contributing 6.8580 points to the index. It had previously hit a record high of RM15.04.
TNB announced that the base electricity tariff will be increased by 14.2% to 45.62 sen per kilowatt-hour, effective July 1, 2025 under the fourth phase of the regulatory period (RP4) of the incentive-based regulatory framework. The current base tariff is set at 39.95 sen/kWh.
Other gainers on Bursa Malaysia included United Plantations which rose 68 sen to RM31.28, Nestle rose 46 sen to RM98 and Dutch Lady added 40 sen to RM30.38.
