At 9.05am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 6.24 points to 1,543.78 continuing its performance on Tuesday after taking Wall Street market signals overnight on gains in the technology and health sectors.
The index opened at 5.52 points at the level of 1,543.15.
Yet the broader market showed a slightly negative performance as losses outpaced gains by 177 to 159 while 268 counters were unchanged, 1671 untraded and 19 suspended.
Total turnover at 291.33.85 units valued at RM 111.71 million.
A note issued by Malacca Securities Sdn Bhd said Tuesday's bounce in the KLCI was short -term and investors may have digested the proposed one -time prosperity tax as well as stamp duty changes.
He added that with the strong situation in the Wall Street market, interest in buying local technology stocks will be the focus in the local bourse.
For commodities, the price of crude palm oil (CPO) remained at a trading level of between RM4,800 and RM5,000 while the price of Brent oil remained above US $ 84 or RM348.81.
So investors may be looking for recovery -themed stocks for the last two months of 2021 with tech stocks rising as a result of strong sentiment on Wall Street while in the broader market there is likely to be low -value stock hunting activity in the near future.
Heavyweights saw Malayan Banking Bhd (Maybank) gain 4 sen to RM8.03, Public Bank Bhd and Tenaga Nasional Bhd (TNB) gain 2 sen each to RM4.06 and RM9.62, Petronas Chemicals (PetChem) monokok 5 sen to RM8.33 and IHH HEALTHCARE gained 13 sen to RM6.59.
Active stocks saw Nexgram Holding Bhd gain half a sen to 2.5 sen, Sedania Innovator rose 7 sen to 70 sen and Ta Win Holding Bhd declined half a sen to 15 sen, followed by Dagang NeXchange Bhd (DNeX) declined 1.5 sen to 81 sen and Sapura Energy Bhd remained at 10 cents.
On the index board, the Emas index rose 30.69 points to 11,429.18, the FBMT 100 index increased 27.66 points to 11,044.68, the FBM Emas Shariah index added 30.36 points to 12,487.95 and the FBM ACE jumped 6.74 points to 7,129.21 while the FBM 70 declined 5.51 points to 15,079.79.
The Industrial Products and Services index increased 0.63 points to 203.98, the plantation index declined 4.3 points to 6,838.62 and the financial services index drove 52.61 points to 15,232.42.
