KUALA LUMPUR (March 8): Oil and gas (O&G) counters on Bursa Malaysia closed largely in the green today, with several touching their one-year highs earlier, after Brent crude oil prices flirted with the US$70-per-barrel range that was last seen in January 2020.
The Bursa Malaysia Energy Index rose as much as 6.53% in the morning session to its highest since March 2020, and remained in the green to settle up 3.54% at 5pm today.
Among the top active counters were Dagang NeXchange Bhd, Sapura Energy Bhd, Sealink International Bhd, Velesto Bhd, KNM Group Bhd and Bumi Armada Bhd.
The counters that touched their one-year highs included Sapura Energy (rose to 17.5 sen before closing up one sen or 6.7% at 16 sen), Bumi Armada Bhd (rose to 49.5 sen before closing up half a sen or 1.09% at 46 sen) and Petronas Chemicals Group Bhd (PetChem), which rose to RM8.58 before closing up 53 sen or 6.77% at RM8.35. PetChem was also the sector’s biggest gainer and the third largest gainer across Bursa Malaysia.