KUALA LUMPUR, Aug 11 — Bursa Malaysia opened higher today prompted by buying support in index-linked counters, led by Maybank.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.93 of-a-point higher at 1,673.96 versus yesterday’s close of 1,673.03.

The index opened unchanged at 1,673.03.

Gainers outpaced decliners 137 to 72, while 199 counters were unchanged, 1,277 untraded and 22 others suspended. 

Turnover stood at 144.04 million shares worth RM36.10 million.

Maybank was up three sen to RM7.98, with 41,900 shares traded.

In a note today, Kenanga Research maintained its upside-bias view on the FBM KLCI, given that its overall trend is still positive, and supported by all key moving averages.

"The index ended its session on a muted tone, digesting a mix of a better ringgit performance and weaker crude oil prices yesterday.

"The benchmark is persisting on its sideways consolidation play by portraying another ‘Spinning Top’ candlestick on the daily chart, reflecting market indecision on its near-term direction,” it said.

It said a breach of the 1,674 level could allow the key index to set sight on 1,680 next.

"On the flip side, with the benchmark index yet to decisively take out its immediate resistance level of 1,674 (R1), likelihood of prolonged consolidation is still intact,” it added.

The FBM Emas Index rose 7.48 points to 11,768.78, the FBMT 100 Index improved 6.41 points at 11,463.70 and the FBM Emas Shariah Index increased 11.10 points to 12,421.21.

The FBM 70 also gained 7.76 points to 13,558.52 and the FBM Ace improved 6.17 points to 5,445.56.

Sector-wise, the Finance Index was 16.97 points lower at 14,343.35 and the Plantation Index recovered 21.41 points to 7,659.06, but the Industrial Index softened 0.62 of-a-point to 3,167.48.

Among heavyweights, TNB gained four sen to RM14.56, Public Bank rose two sen to RM19.58, while Petronas Chemicals and Axiata were up a sen each to RM6.65 and RM5.71 respectively.

Of the gainers, MNRB advanced 15 sen to RM3.00, Pos Malaysia was up five sen to RM3.23, RCE Capital increased 14.5 sen to 92.5 sen and Mesiniaga was seven sen stronger at RM1.32. — Bernama