KUALA LUMPUR, Sept 21 —Bursa Malaysia’s key index rebounded to close the morning session 0.31 per cent higher, paring earlier losses on persistent buying in heavyweights, particularly banking stocks.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.24 points to 1,670.80 from Friday’s close of 1,665.56.

The benchmark index, which opened 1.36 points lower at 1,664.20, moved between 1,661.22 and 1,673.25 during the session.

However, market breadth was negative with losers outnumbering gainers 532 to 480. A total of 491 counters were unchanged, 1,379 untraded and 20 suspended.

Turnover stood at 1.97 billion units worth RM1.26 billion.

In a note today, Apex Securities Bhd said the recent correction on the domestic front has brought valuations to more attractive levels, potentially encouraging bargain hunting and selective buying in blue-chip counters.

“We also expect investors to favour sectors with resilient earnings and stronger domestic or commodity-linked exposure amid the uncertain external environment,” the stockbroking firm said.

Among the heavyweights, Maybank rose eight sen to RM10.40, Public Bank added three sen to RM4.80, CIMB firmed seven sen to RM7.70, and Tenaga Nasional expanded two sen to RM13.06, while IHH Healthcare eased one sen to RM7.63.

As for the most active stocks, Zetrix AI inched up half a sen to 20.5 sen, Jaks Resources gained 1.5 sen to 17 sen, FSBM increased 3.5 sen to 10 sen, AirAsia edged up one sen to 54 sen, and Ni Hsin was flat at 39 sen.

Among the top gainers, Solarvest surged 39 sen to RM3.72, YTL Power strengthened 36 sen to RM5.94, Samaiden jumped 25 sen to RM2.20, Hong Leong Bank added 24 sen to RM22.78, and Ranhill Utilities racked up 21 sen to RM3.12.

Of the top losers, Malaysian Pacific Industries erased 80 sen to RM42, Nestle was 58 sen lower at RM89.00, Time Dotcom dropped 47 sen to RM5.94, Sunway Construction reduced 46 sen to RM7.42, and QL Resources lost 31 sen to RM3.88.

On the index board, the FBM Emas Index notched up 0.27 of a point to 12,411.99, while the FBM Top 100 Index slipped 0.16 of a point to 12,210.21.

Meanwhile, the FBM Mid 70 Index contracted 161.52 points to 17,682.50, the FBM Emas Shariah Index shrank 71.08 points to 12,240.91, and the FBM ACE Index advanced 47.14 points to 5,291.74.

Sector-wise, the Industrial Products and Services Index trimmed 1.35 points to 183.89, while the Energy Index improved 8.41 points to 829.03.

The Financial Services Index climbed 97.27 points to 19,509.90, while the Plantation Index slid 52.96 points to 9,443.48. — Bernama