KUALA LUMPUR: Local institutions supported Bursa Malaysia for the 12th consecutive week, with net purchases of RM281.9 million, according to MIDF Amanah Investment Bank Bhd (MIDF).

However, this figure shows a decrease from the previous week's RM304.0 million in net purchases.

In its Fund Flow Report for the week ended January 10, MIDF noted that local institutions extended their net buying streak to 36 consecutive trading days.

MIDF also observed that local retailers turned net buyers after two weeks of net selling, contributing RM220.3 million in net inflows.

"Trading activity surged across all categories, with average daily trading volume (ADTV) rising by 30.8 per cent for foreign investors, 29.8 per cent for local institutions, and 19.8 per cent for retail investors," MIDF said.

Foreign investors continued their selling momentum, recording a net outflow of RM502.2 million last week, marking a 12-week selling streak.

The heaviest outflow occurred on Thursday (RM162.3 million), with other days ranging between RM56.1 million and RM111.5 million.

"The sectors that saw the highest net foreign inflows were construction (RM271.1 million) and real estate investment trusts (REITs) (RM20 million).

"Meanwhile, the top sectors with the highest net foreign outflows were utilities (RM142.7 million), financial services (RM130.0 million), and transport and logistics (RM92.5 million)," MIDF added.