How much did Maybank and Public Bank contribute to market gains?

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Maybank and Public Bank Contributed 6.26 Points to Market Gains

Maybank and Public Bank collectively contributed 6.26 points to the gains observed in the market bellwether. These two financial services heavyweights saw their share prices advance, with Maybank increasing by 15 sen to RM8.50 and Public Bank adding nine sen to reach RM4.30. This buying support in selected financial stocks played a significant role in lifting the broader market.
Financial Services Stocks Led the Gains

The market bellwether, the FTSE Bursa Malaysia KLCI (FBM KLCI), closed at its intraday high, surging 21.42 points to 1,551.51. This upward movement was largely driven by continuous buying interest in key financial services counters. The Financial Services Index itself saw a substantial surge, climbing 284.95 points to 16,112.73, underscoring the sector's influence on the overall market performance.
Overall Market Sentiment Remained Positive

The broader market breadth was positive, with advancers outnumbering decliners by a significant margin, indicating widespread buying activity. Total turnover also improved, with a higher volume of units traded and increased value compared to the previous day. This upbeat performance mirrored positive cues from regional markets, which were influenced by overnight gains on Wall Street.
Analysts Expect Continued Uptrend

Market observers noted that investors continued their bargain-hunting activities, buoyed by optimism stemming from positive corporate earnings news across the region. The expectation is that the local bourse will maintain its uptrend due to improved market sentiment and renewed optimism. For the remainder of the week, the FBM KLCI is anticipated to trade within the 1,545-1,560 range.

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How much did Maybank and Public Bank contribute to market gains?

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