KUALA LUMPUR (March 21): Consumer products and services stocks were among the top gainers on Bursa Malaysia in early trade on Monday (March 21).

Fraser & Neave Holdings Bhd ranked second in the gainers' list, rising as much as 90 sen or 4.2% to reach its intraday high of RM22.10 in the morning session. It pared some of its gains at the midday break, but was still up 72 sen or 3.4% at RM21.92, with 104,200 shares traded.

The third on the list was Heineken Malaysia Bhd, whose shares rose as much as 70 sen or 3.2% to reach its intraday high of RM22.38 in the morning session. At noon break, the stock pared some gains to settle at RM22.36, still up 68 sen or 3.14% from Friday's close, with 35,200 shares done.

Berjaya Food Bhd shares, which surged as much as 25 sen or 6.9% to hit its intraday high of RM3.85 in early trade, pared some gains to close 17 sen or 4.72% higher at RM3.77 at noon market break. The counter saw 1.01 million shares traded.

Analysts view the government's recent move for Employees Provident Fund members to withdraw up to RM10,000 as a positive for the consumer sector as additional liquidity will likely trickle down, spurring demand for consumer goods and providing further support to consumer spending in the near term.

The sector is also seen as a beneficiary of Malaysia's reopening of its borders to international visitors come April 1, allowing fully vaccinated travellers to enter the country without quarantine.

The Bursa Consumer Products and Services Index was up 4.91 points or 0.86% at 573.97 points at noon break, while the FBM KLCI was down 3.72 points or 0.23% at 1,587.54 points.