Bursa Malaysia continued the uptrend displayed last week in this morning's trading, taking cues from the encouraging performance of other regional bourses.
The increase was driven by strong confidence in the US $ 1.9 trillion stimulus package plan as well as high crude oil prices.
At 9.04am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 12.39 points to 1,612. 61 from 1,600.12 when it closed last Friday afternoon.
According to Bernama, the key index opened 7.36 points higher at 1,607.48.
On the broader market, gainers outpaced losers by 503 to 89 while 277 counters were unchanged, 1,303 untraded and eight others suspended.
Turnover was 541.16 million units worth RM214.05 million.
Malacca Securities Sdn Bhd said last Friday, the FBM KLCI overcame losses on Wall Street and jumped past the psychological 1,600 level, boosted by continued buying interest in banking heavyweights after Bank Negara Malaysia (BNM) decided to maintain the Overnight Policy Rate (OPR). , coupled with gains in energy stocks to push key indices to strengthen.
“We think the positive momentum of the key indices continues as the buoyancy of transactions in the banking sector may indicate market hope towards economic recovery.
"Meanwhile, Brent oil prices continued to show an increase after the Organization of the Petroleum Exporting Countries (OPEC) and its allies decided to maintain stable production until next month," he said in a research note today.
Meanwhile, the firm added that traders are also expected to focus on recovery-themed segments such as tourism, construction and real estate following the drop in daily Covid-19 cases.
Among heavyweights, Maybank gained six sen to RM8.42, Public Bank rose 10 sen to RM4.45, Petronas Chemicals jumped 18 sen to RM8.00, Tenaga rose eight sen to RM10.42 and IHH Healthcare was two sen better. at RM5.35.
Among the most active counters, Sapura Energy, Velesto and Alam Maritim rose 1.5 sen each to 16.5 sen, 19 sen and 10.5 sen respectively, KNM added one sen to 21.5 sen and Bumi Armada rose 3.5 sen to 49 sen.
On the index board, the FBM Emas Index jumped 101.68 points to 11,796.94, the FBMT 100 Index rose 94.33 points to 11,492.90, the FBM Emas Syariah Index strengthened 92.94 points to 13,028.77, the FBM ACE rose 45.18 points to 10,453.17 and the FBM 70 jumped 14,496.93 points to 15,496.93 points.
By sector, the Financial Services Index jumped 142.61 points to 15,595.35, the Industrial Products and Services Index rose 2.66 points to 187.50 but the Plantation Index fell 33.40 points to 7,130.02.3.
