The local market continued its bullish momentum yesterday as Bursa Malaysia opened higher on almost all indices today.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) which was the market benchmark rose 1.78 points to 1,502.13.
Bernama reported that the key index opened 5.13 points higher at 1,505.48.
Gainers outnumbered losers by 212 to 155, while 263 counters were unchanged, 1,520 counters untraded and 79 others suspended.
Turnover stood at 250.99 million units worth RM178.59 million.
Analysts said the index is expected to remain on positive performance, supported by continued current low price but movement in the small range.
“Institutional investors are currently buying at low prices on declining stocks while most retail investors do not enter the market to wait for the direction of the next movement.
"This can be seen through the decrease in the number of units that have changed hands since the beginning of this week," he said.
He said from a technical projection point of view, the KLCI movement will be in a small range today with immediate resistance level at 1,510 while support level at 1,485.
Among heavyweights, Hartalega added 16 sen to RM18.44, Sime Darby rose five sen to RM2.45, Petronas Gas rose 14 sen to RM16.16, Sime Darby Plantation and Dialog added three sen to RM4.90 and RM3.73.
Hartalega and Petronas Gas emerged as the most profitable stocks apart from Pacific Malaysia which jumped 34 sen to RM22.88 and Kuala Lumpur Kepong which added 10 sen to RM22.46.
Among active stocks, Tech Vivocom rose half-a-sen to five sen and Pestaiang added nine sen to 50 sen.
On the index board, the FBM Emas Index added 16.97 points to 10,885.04, the FBMT 100 Index rose 14.01 points to 10,690.12 and the FBM Emas Syariah Index rose 33.16 points to 13,068.65.
Meanwhile, FBM 70 rose 24.01 points to 14,357.05 and FBM ACE declined 2.13 points to 10,003.20.
The Financial Services Index rose 6.77 points to 12,306.15, the Industrial Goods and Services Index increased 0.06 points to 144.80 and the Plantation Index added 26.24 points to 6,967.81.
