KUALA LUMPUR, March 2 ― Bursa Malaysia opened higher today, boosted by the elevated commodity prices and net buying by foreign funds, a dealer said.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.03 points to 1,604.47 from 1,596.44 at yesterday's close.

The index opened 4.69 points better at 1,601.13.

Market breadth was positive with gainers edging past losers 174 to 161, while 222 counters were unchanged, 1,690 untraded and 18 others suspended

Turnover stood at 167.07 million units worth RM96.86 million.

In a note today, Malacca Securities Sdn Bhd said investors may see trading interest in the plantation counters amidst the shortfall in sunflower oil if the tension between Russia and Ukraine continues to escalate.

"We expect volatility to persist and profit-taking activities may continue on the local front with the ongoing geopolitical incident,” it said.

It also believes that the energy, metal-related and consumer stocks are still among the top sectors to watch.

"As such, support is set around 1,570-1,580, while the resistance is located around 1,615,” it added.

Bursa heavyweights Maybank rose five sen to RM8.95, Petronas Chemicals added 19 sen to RM9.79, Press Metal gained two sen to RM6.81, Public Bank stayed at RM4.42, and IHH Healthcare lost one sen to RM6.56.

As for the actives, Bioalpha Holdings gained 1.5 sen to 16.5 sen, Hibiscus Petroleum firmed three sen to RM1.25 and KNM inched up half-a-sen to 16 sen.

On the index board, FBM ACE increased 18.24 points to 5,890.59, FBM 70 expanded 34.28 points to 13,554.30, FBM Emas Index widened 51.14 points to 11,421.99, FBMT 100 Index inched up 49.60 points to 11,099.09, and FBM Emas Shariah Index was 53.80 higher at 12,145.29.

Sector-wise, the Financial Services Index bagged 106.32 points to 16,555.00, the Industrial Products and Services Index improved 1.41 points to 211.23, while the Plantation Index gained 107.51 points to 8,431.33. ― Bernama