Bursa Malaysia continued to rise yesterday to open higher today, despite modest profit -taking at selected consumer products and services counters.
At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) market index rose 0.64 points to 1,583.10 from 1,582.46 at the close on Monday.
Bernama reported that the index opened 3.64 points higher at 1,586.10.
Market breadth was positive with gainers outpacing losers by 231 to 209, while 353 counters were unchanged, 1,360 untraded and 11 others suspended.
Turnover stood at 698.09 million units worth RM330.72 million.
Malacca Securities Sdn Bhd said based on overnight gains on Wall Street and in regional markets, the FBM KLCI rebounded from the previous session as key indices saw signs of buying shares at lower prices after the recent decline.
"There may be portfolio rebalancing activity by index -linked funds by the end of the week before the mid -year review of the FBM Index Series in June takes effect," he said in a research note today.
In commodity terms, the research house said crude palm oil experienced a decline in prices, in line with declining soybean oil as well as concerns over production and high stock levels, while benchmark Brent crude rose above $ 70 a barrel.
Investors may focus on technology stocks following overnight gains on the Nasdaq (which is approaching an all -time high zone), while current Movement Control Orders (PKP) may continue to provide good prospects for sectors such as transportation and logistics, as well as packaging and consumer stocks. elected.
"Similarly, the building materials segment is expected to perform well in an environment of strong commodity prices," he said.
Of the heavyweights, Maybank added 3.0 sen to RM8.22, Public Bank rose 1.0 sen to RM4.24, Petronas Chemicals increased 5.0 sen to RM8.15, while TNB declined 4.0 sen to RM10.02 and IHH Healthcare was flat at RM5. .50.
Among active stocks, Serba Dinamik declined 3.0 sen to 71.5 sen, Privasia rose 2.5 sen to 23 sen, KNM added half -a -sen to 21 sen, while Salutica rose 5.0 sen to 59.5 sen.
On the index board, the FBM Gold Index rose 3.79 points to 11,569 and the FBMT 100 Index rose 3.94 points to 11,247.87, while the FBM ACE declined 39.10 points to 7,628.47.
The FBM Emas Shariah Index decreased 3.04 points to 12,710.40 and the FBM 70 rose 3.01 points to 15,032.41.
By sector, the Financial Services Index added 19.15 points to 15,330.62, while the Industrial Products and Services Index rose 0.55 points to 193.77, and the Plantation Index declined 17.64 points to 6,660.32.
