Bursa Malaysia trading resumed its four-day uptrend to open higher today as investors regained confidence in the market and better commodity prices.
At 10.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 11.12 points or 0.72% to 1,564.50 from 1,553.37 at the close on Tuesday.
Bernama reported that the key index opened 1.21 points higher at 1,554.58.
On the broader market, gainers outnumbered losers by 256 out of 130, while 312 counters were unchanged, 1,553 untraded and nine others suspended.
Turnover jumped to 197.44 million units worth RM129.59 million.
Malacca Securities expects that the market will experience a decline in the deck as it is likely that profit taking will occur following the price level that continues to record highs.
Yet it believes that the current positive sentiment should continue to be supported by a more comprehensive recovery tone amid rising commodity prices.
Meanwhile, the market is expected to be driven by the smooth progress of domestic vaccinations and investors are also optimistic about the ongoing reporting season.
"Investors should remain focused on the technology sector as yesterday the Nasdaq continued to show improvement," he said.
In addition, the recovery sector such as building materials and the construction sector will continue to gain attention from investors.
For heavyweights, Public Bank rose four sen to RM4.15, Maybank jumped six sen to RM8.38 and CIMB wanted five sen to RM4.88.
While Press Metal gained 20 sen to RM5.20, IOI increased 10 sen to RM3.99 and Sime Darby 'rocketed' six sen to RM4.22.
For active stocks, MMAG, AE Multi and Ta Win were flat at 11.5 sen, 4.5 sen and 16.5 sen respectively and Aimflex fell one sen to 17.5 sen.
On the index board, the FBM Emas Index rose 70.91 points to 11,436.26, the FBM Emas Shariah Index rose 72.47 points to 12,493.81 and the FBM ACE added 36.94 points to 7,364.43.
FBMT 100 jumped 70.89 points to 11,142.07 and FBM 70 increased 29.69 points to 14,961.09.
By sector, the Financial Services Index ‘rocketed’ 110.65 points to 15,447.08, the Industrial Products and Services Index rose 1.84 points to 193.21. The Plantation Index added 83.81 points to 6,698.65.
