Bursa Malaysia continued its uptrend yesterday to open higher this morning, as market sentiment remained positive following the implementation of a clearer vaccine, dealers said.
Bernama reported that at 9.04am, the FTSE Bursa Malaysia KLCI (FBM KLCI) market index rose 0.49 points to 1,647.99 after opening 1.58 points higher at 1,649.08.
In the overall market, gainers outnumbered losers by 292 to 109, while 1,425 counters were unchanged, 322 untraded and 38 others suspended.
Turnover stood at 1.03 billion units worth RM315.07 million.
In today's note, Malacca Securities Sdn Bhd expects positive momentum to remain today, ahead of the long weekend.
The research firm is confident that market participants expect news about the Kuala Lumpur-Singapore High Speed Rail (HSR) and Large Scale 4 (LSS4) coming out soon.
In addition, health experts have stated that the production of the Covid-19 vaccine will be effective against new variants, which could attract trading interest to recovered stocks.
"We expect the building materials stock to continue to focus on the anti-dumping duty imposed on selected imported steel products.
"Meanwhile, recovering stocks such as flights and games could rise further due to confidence in vaccine development," he said, adding that the current resistance level is at 1,660-1,680, while the support level is at 1,620, followed by 1,600.
Of the heavyweights, Public Bank rose 10 sen to RM20.70, Tenaga rose two sen to RM10.70, Top Glove added one sen to RM6.57, while Petronas Chemicals and IHH Healthcare were flat at RM7.58 each. and RM5.65.
On the other hand, Maybank declined two sen to RM8.47.
Of the active stocks, Fintec declined half-a-sen to nine sen, Masteel rose 2.5 sen to 54.5 sen, while Hiap Teck and Talam were flat at 46.5 sen and 3.5 sen, respectively.
On the index board, the FBM Gold Index rose 16.7 points to 11,853.55, the FBMT 100 Index rose 11.52 points to 11,612.32, the FBM Gold Shariah Index increased 7.56 points to 13,315.06, the FBM 70 rose 46.36 points to 15,145.81 and the FBM ACE rose 46.11 points to 10,699.66.
Meanwhile, the Industrial Products and Services Index rose 0.42 points to 175.89, the Financial Services Index rose 43.27 points to 15,334.91 and the Plantation Index added 37.02 points to 7,404.51.
