Healthcare, logistics and telecommunications counters pushed Bursa Malaysia up again following investors hunting down low-priced stock counters in the previous session.
The market changed positive after 10 minutes of trading with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rising 3.53 points after 1,620.78 at 9.15am.
Bernama reported that the index opened lower 1.41 points to 1,615.84 after closing 1,617.25 on Monday.
In the broader market, gainers outnumbered losers by 299 to 290, while 313 counters were unchanged, 1,182 untraded and 12 others suspended.
Turnover remained unchanged at 59.16 million units worth RM338.98 million.
Malacca Securities said negative market sentiment following stricter movement restrictions as announced by Prime Minister Tan Sri Muhyiddin Yassin yesterday, may not be long as the market awaits the launch of the vaccine.
The World Health Organization (WHO) called for a collective commitment yesterday, so over the next 100 days, the coronavirus vaccine for health workers and those at high risk in all countries could begin, which an official hopes will launch in February.
“Concerns over the latest movement restriction measures have led to profit-taking activity on the local bourse, driving the FBM KLCI to close lower after unsuccessful trading yesterday.
"Low-priced stocks may see better selling pressure," he said in a research note today.
The research firm is confident that the plantation sector will likely continue to be a concern after emerging highest in the broader market yesterday, supported by Malaysia's lower palm oil inventory in December.
In addition, buying interest in the technology sector may drive the sector to record an increase.
Moreover, indicators from Wall Street did not help after the stock market ended its four-day rise as the Dow fell (-0.3%) and the S&P 500 (-0.7%) due to widespread concerns and Covid-19 infection cases continued to soar. significantly.
Crude oil futures were unchanged yesterday as a result of the increase in Covid-19 cases which raised concerns over energy demand projections.
The glove maker drove the heavyweights counter with Top Glove jumping 19 sen to RM6.62, Hartalega adding 36 sen to RM12.58 and Supermax rising 27 sen to RM7.30.
TM and Axiata added 19 sen and five sen respectively to RM5.70 and RM3.68 respectively.
On the other hand, PPB Group decreased 58 sen to RM18.72 and CIMB decreased six sen to RM3.98.
Among actives, Hubline rose 5.5 sen, Bintai Kinden gained five sen to 71.5 sen and Iris rose one sen to 35.5 sen.
On the index board, the FBM Emas Index rose 16.19 points to 11,564.67, the FBMT 100 Index added 12.06 points to 11,325.12, and the FBM Emas Shariah Index rose 57.60 points to 13,128.29.
FBM ACE added 85.41 to 10,444.45 and FBM 70, however down 34.23 points to 14,398.85.
By sector, the Financial Services Index remained low, declining 59.45 points to 14,771.96, the Industrial Products and Services Index rose 0.45 points to 172.45 and the Plantation Index rose 1.46 points to 7,485.03.
