Bursa Malaysia opened higher in volatile trading today as overall investor sentiment remained cautious following the implementation of the Movement Control Order (PKP) 3.0.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) market index rose 0.18 points to 1,588.43 from 1,588.25 at the close yesterday.
According to Bernama, the barometer index opened 3.73 higher at 1,591.98.
However, in the broader market, losers outnumbered gainers by 245 to 202, while 291 counters were unchanged, 1,416 untraded and five others suspended.
Turnover stood at 359.92 million shares worth RM172.87 million.
Malacca Securities Sdn Bhd said Bursa Malaysia is expected to remain weak following the resurgence of the Covid-19 case which resulted in the PKP being enforced in six districts in Selangor.
"Meanwhile, the technology sector will see a decline following the overnight decline of the Nasdaq on Wall Street.
"On commodities, Brent crude oil prices have climbed to a two-month high following demand confidence while timber futures are heading towards all-time highs in the region," it said in a research note today.
Add the research firm, for today, the sector will focus on packaging -related counters during the implementation of PKP 3.0.
"In addition, Brent crude oil prices as well as higher-than-expected yields from Saudi oil giant Aramco could stimulate buying interest, while trading interest can be seen in timber-related stocks," he said.
Yesterday, the government announced that movement across states and districts was not allowed in Hulu Langat, Petaling, Gombak, Klang, Kuala Langat and Sepang which were subject to PKP from May 6 to May 17 due to the surge of new Covid-19 cases in the area.
Senior Minister (Security Cluster), Datuk Seri Ismail Sabri Yaakob said, social activities are not allowed but most economic activities will not be affected.
Among heavyweights, Maybank and Public Bank were unchanged at RM8.24 and RM4.12 respectively. Petronas Chemicals lost six sen to RM8.12, TNB fell two sen to RM9.95 and IHH gained three sen to RM5.29.
For active stocks, KNM rose half -a -sen to 19 sen, TA Win added 3.5 sen to 17 sen, Tanco was flat at six sen and Velesto Energy declined half -a -sen to 15.5 sen.
Top gainers included Transocean which rose 43 sen to RM6.63, Gopeng which rose 22 sen to RM1.35 and HengYuan which added 15 sen to RM5.75.
Among losers, MPI declined 50 sen to RM38, Nestle declined 30 sen to RM135.50 and Unisem declined 19 sen to RM7.71.
On the index board, the FBM Emas Index was down 2.59 points to 11,698.59, the FBM Emas Syariah Index was down 12.92 points to 13,121.40, the FBMT 100 Index was down 7.38 points to 11,341.18, the FBM 70 Index was down 43.53 points to 15,372.05, and the FBM ACE Index was down 36.06 points to 8,591.34 .
By sector, the Industrial Goods and Services Index fell 0.36 points to 198.87, the Plantation Index weakened 16.03 points to 6,975.98, but the Financial Services Index added 21.02 points to 14,860.24.
