KUALA LUMPUR, March 18 ― Bursa Malaysia ended the morning session mixed, as bargain hunting activities in index-linked heavyweights lifted the FTSE Bursa Malaysia KLCI (FBM KLCI) 0.15 per cent higher.

At 12.30pm, the FBM KLCI rose 1.94 points higher to 1,258.52 from yesterday’s close of 1,256.58.

After opening 2.15 points easier at 1,254.43 this morning, the benchmark index moved between 1,252.86 and 1,275.23 throughout the morning session.

However, on the broader market, losers edged gainer 492 to 265, with 276 counters unchanged, 983 untraded and 16 others suspended.

Turnover amounted to 1.48 billion shares worth RM1.09 billion.

In a note, Maybank IB Research said overnight gains on Wall Street has lifted market sentiment, which sparked bargain hunting activities in the domestic market.

"Technically, we expect the FBM KLCI to range between 1,230 and 1,320 today. Downside supports are at 1,240 and 1,130,” it added.

Wall Street rebounded last night, helped by the White House backing of a US$850 billion federal stimulus plan and a Federal Reserve move to backstop the commercial paper market by providing short term funding to businesses hit by the Covid-19 pandemic.

The Dow Jones Industrial Average closed 5.2 per cent higher at 21,237.31, while the S&P 500 index added six per cent to close at 2,529.19 and the Nasdaq Composite Index closed up 6.2 per cent at 7,334.78.

Meanwhile, another dealer said some traders on the local market were seen taking profits off the table, especially among the lower liners, amid the ongoing volatility and uncertainties.

On the broader market, he said it is likely that market players would remain cautious and defensive until there is a clearer change in the market’s direction.

Among the heavyweights, Maybank added two sen to RM7.38, Tenaga rose 18 sen to RM11.42, Public Bank declined 16 sen to RM13.74 and IHH gained 23 sen to RM4.91.

Among the actives were ACE Market debutant, electrical products and accessories distributor ACO Group Bhd, which fell eight sen to 20 sen with 412.11 million shares traded.

 At the opening bell, it declined eight sen over its issue price of 28 sen with 6,000 shares traded.

Other actives were Borneo Oil, which was flat at 1.5 sen, while Bumi Armada eased half-a-sen to 13.5 sen and Dagang Nexchange declined 1.5 sen to 7.5 sen.

Consumer products and services stocks dominated the top gainers' list, with Nestle up 60 sen to RM136.10, Ajinomoto rose 56 sen to RM11.76, PPB Group added 54 sen to RM16.28 and Dutch Lady was 40 sen higher at RM38.

Among top losers were Batu Kawan, which fell 40 sen to RM13, Vitrox declined 36 sen to RM7.11, AEON Credit fell 33 sen to RM9.47 and Hap Seng slipped 31 sen to RM7.19.

On the index board, the FBM Emas Index eased 2.94 points to 8,623.84, the FBM Emas Shariah Index added 24.91 points to 9,385.96 and the FBM 70 gave up 37.11 points to 9,907.31.

The FBMT 100 Index gained 3.45 points to 8,554.08 and the FBM Ace depreciated 59.52 points to 3,562.57.

Sector-wise, the Industrial Products and Services Index inched down 1.88 points to 100.26, the Financial Services Index lost 40.50 points to 11,621.98 and the Plantation Index was 28.30 points lower at 5,661.34. ― Bernama