At 9.52am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded 2.63 points at 1,483.55 from Tuesday's close of 1,480.92.
It opened higher on hunting activity for low -value stocks after experiencing a sell -off session on Tuesday despite weak Wall Street performance.
The index opened 1.20 points at 1,482.12.
On the broader market, investors saw losers outnumber gainers by 242 to 239, while 313 counters were unchanged, 1,523 untraded and 19 suspended.
Total turnover at 452.51 million units worth RM244.2 million.
A note issued by Malacca Securities Sdn Bhd noted the rebound of the local bourse in line with the performance of the global market.
He added that the local market is expected to remain slow as investors await the outcome of the Federal Reserve (Fed) meeting on monetary policy and concerns over the Omicron variant in the United Kingdom (UK).
Commodity markets saw both crude palm oil prices and crude oil prices pull back while steel prices were in an upward trend.
Heavyweights saw Malayan Banking Bhd (Maybank) up 0.5 sen at RM8.14 while Public Bank Bhd, Petronas Chemicals Group Bhd (PetChem), IHH Healthcare and Tenaga Nasional Bhd (TNB) remained at RM4, RM8.61, RM6.50 and RM9.23.
Active stocks saw ATA IMS Bhd add 3.5 sen to 58.5 sen and Pelikan International Corp Bhd rose 3 sen to 57 sen while Dataprep Holdings Bhd declined 3 sen to RM1.02 and Sapura Energy Bhd and Widad Group Bhd remained 5 sen and 35 sen, respectively.
On the index board, the FBM Emas index rose 21.27 points at 10,814.46, the FBMT 100 index added 23.49 points at 10,510.34 and the FBM Emas Shariah index fell 21.01 points at 11,637.94.
FBM 70 was down 50.51 points at 13,924.71 and FBM ACE was strong 22.44 points at 6,207.94.
The Products and Services Industry Index added 0.45 points at 193.78, the Financial Services index rose 51.38 points at 15,130.02 and the Plantation index fell 0.73 points at 6,429.77.
