Bursa Malaysia was slightly higher in early trade today following buying activity in lower -priced stocks that supported the benchmark index to stay above the 1,500 level.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 5.15 points to 1,513.86 from 1,508.71 at the close on Thursday.
According to Bernama, the index opened 0.35 points lower at 1,508.36.
On the broader market, gainers outnumbered losers by 197 to 126, while 246 counters were unchanged, 1,634 untraded and 10 others suspended.
Turnover stood at 240.14 million units worth RM135.80 billion.
Malacca Securities expects the current cautious trading sentiment to continue due to the lack of new positive catalysts.
“However, we are confident that buying activity in low -priced shares may occur in the near future following significant selling activity and oversold conditions across the board. By sector, oil prices saw a rebound following the increased inventory reduction, ”he said in a research note today.
According to the brokerage firm, investors will see moderate buying interest in the energy sector after yesterday's sell-off with oil prices remaining above US $ 74.
"In addition, buying activity in low-priced stocks will take place in sectors such as transportation and logistics and important consumer stocks such as technology stocks," according to Malacca Securities.
For active stocks, Maybank rose six sen to RM8.09, TNB added six sen to RM9.68, and Public Bank and Petronas Chemicals added one sen each to RM4.06 and RM8.00, respectively, while IHH Healthcare was flat at RM5. .60 and Press Metal Aluminum declined three sen to RM4.90.
For active stocks, Serba Dinamik rose 2.5 sen to 46.5 sen, MYEG jumped six sen to RM1.68, Pelikan added two sen to 40.5 sen, T7 Global added half-a-sen to 36.5 sen, while Macpie and AE Multi Holdings were unchanged, respectively. at seven cents and five cents respectively.
On the index board, the FBM Emas Index was 34.27 points higher at 11,023.02, the FBMT 100 Index added 32.69 points to 10,737.0 and the FBM Emas Syariah Index jumped 30.72 points to 12,044.21.
FBM ACE increased 89.75 points to 7,153.27 and FBM 70 added 28.53 points to 14,275.93.
By sector, the Financial Services Index rose 58.12 points to 14,934.98, the Industrial Products and Services Index fell 0.11 points to 186.37 and the Plantation Index rose 18.08 points to 6,294.92.
