At 9.05am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded 2.56 points at 1,513.13 from Monday's close of 1,510.57.
It opened higher on renewed buying interest after it came under buying pressure on Monday due to concerns over the Covid-19's new variant, the Omicron.
The index opened 2.01 points at 1,512.58.
On the broader market, investors saw gainers outnumber losers by 214 to 155, while 254 counters were unchanged, 1,682 untraded and 63 suspended.
Total turnover at 383.69 million units worth RM189.85 million.
A note issued by Malacca Securities Sdn Bhd stated Wall Street's positive overnight performance would support local equities.
Moreover, some economists claim that the economic impact stemming from the Omicron Covid-19 variant will be less severe than in 2020.
Commodity markets saw a modest rebound in crude palm oil and crude oil prices.
He added that tech counters may be a concern for investors given the visibility of high earnings in the future coupled with an overnight rebound on Wall Street.
Heavyweights saw Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd fall 2 sen each to RM8.03 and RM5.09, Public Bank Bhd added 1 sen to RM3.97 and Tenaga Nasional Bhd (TNB) rose 8 sen at RM9.34 while Petronas Chemicals Group Bhd (PetChem) and IHH Healthcare remained at RM8.21 and RM6.60 respectively.
Active stocks saw ATA IMS Bhd decline 9.5 sen at 42.5 sen, BCM Alliance Bhd fell 1 sen at 5.5 sen and Borneo Oil Bhd was flat at 2.4 sen.
The top gainers were Malaysian Pacific Industries Bhd (MPI) which rose 90 sen to RM49.76, Genetec Technology Bhd added 50 sen to RM38.20 and Kuala Lumpur Kepong Bhd (KLK) added 28 sen to RM20.42.
On the index board, the FBM Emas index jumped 26.78 points at 11,018.65, the FBMT 100 index jumped 26.26 points at 10,766.50.22 and the FBM Emas Shariah index rose 35.81 points at 12,096.73.
FBM 70 increased 67.09 points at 14,449.41 and FBM ACE decreased 1.47 points at 6,514.44.
The Products and Services Industry Index increased 0.29 points at 192.34, the Financial Services index decreased 4.94 points at 15,038.47 and the Plantation index plunged 20.61 points at 6,376.94.
