Bursa Malaysia bounced back from last week's losses to open higher in early morning trading, supported by renewed buying interest involving selected consumer product counters as well as healthcare.
At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 3.85 points to 1,582.05 from 1,575.16 at the close on Friday last week.
Bernama reported that the key index opened 7.30 points higher at 1,582.46.
Price movements in the market were positive with gainers outpacing losers 307 to 201 while 348 counters were unchanged, 1,298 untraded and 11 others suspended.
Turnover was 698.43 million units worth RM361.20 million.
Meanwhile, Malacca Securities Sdn Bhd said investors are likely to focus on the upcoming US Federal Open Market Committee (FOMC) meeting as well as the total daily vaccination doses given in the country.
“The FBM KLCI declined for the third consecutive session last Friday amid mixed regional sentiment with key indices declining due to continued profit-taking activity.
"We think sentiment will continue to move towards a downward trend following the extension of the Full Movement Control Order until June 28, 2021 as new daily cases of Covid-19 continue to surpass the 5,000 level," he said in a note today.
On commodities, Malacca Securities said crude palm oil (CPO) may see some buying interest following the recent drop in commodity prices.
"Investors may also focus on oil and gas counters with oil prices continuing to strengthen above the US $ 72 per barrel level. In addition, the positive sentiment of Nasdaq's overnight performance will benefit technology stocks in the local market, "he added.
Among heavyweights, Maybank rose 1.0 sen to RM8.19, TNB increased 3.0 sen to RM9.97, while Public Bank and IHH Heallthcare were flat at RM4.21 and RM5.48 respectively while Petronas Chemicals declined 6.0 sen to RM8. 02.
For active stocks, Priceworth International and Nexgram fell half-a-sen to 1.5 sen and 3.5 sen, respectively, Tanco was flat at 15 sen while Eden Inc rose 2.0 sen to 19.5 sen.
On the index board, the FBM Gold Index rose 28.51 points to 11,531.70, the FBMT 100 Index added 25.58 points to 11,212.74 but the FBM ACE fell 29.47 points to 7,613.60.
The FBM Emas Syariah Index rose 51.32 points to 12,687.65 and the FBM 70 rose 27.23 points to 14,961.66.
By sector, the Financial Services Index declined 11.39 points to 15.241.39 while the Industrial Products and Services Index rose 0.03 points to 192.36 and the Plantation Index increased 4.17 points to 6,703.66
