KUALA LUMPUR, Feb 4 — Bursa Malaysia closed sharply higher today lifted by buying interest in bluechips, dealers said.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI jumped 23.47 points to 1,656.77 from yesterday's closing of 1,653.18.

The key index opened 4.79 points firmer at 1,638.09.          

A dealer said the traders' appetite for equities returned following stronger crude oil prices on market talks of a possible discussion on oil output cut between the Organisation of the Petroleum Exporting Countries (Opec) and non-Opec members.

He said crude oil prices were also helped by a weaker US dollar as traders turned pessimistic about another interest rate hike in the world's largest economy.

Brent, the global benchmark for crude oil, rose to over US$35 per barrel in the overnight trade from around US$32 per barrel in the previous day.

Among heavyweights, Maybank chalked up 13 sen to RM8.57, TNB added four sen to RM13.16, Public Bank gained 10 sen to RM18.48 and Petronas Chemicals and IHH perked two sen each to RM7.00 and RM6.59 respectively.

Among actives, Xidelang, XOX and RGB gained half-a-sen each to 5.5 sen, 20.5 sen and 16.5 sen respectively.

Hubline and Tiger Synergy were flat at one sen and eight sen respectively.

Market breadth was positive with gainers outpacing losers 512 to 341 with 308 counters unchanged, 582 counters untraded and 16 others suspended.

Total volume rose to 2.05 billion shares worth RM2.08 billion from yesterday's 1.48 billion shares worth RM1.8 billion.

On the scoreboard, the FBM Emas Index jumped 138.25 points to 11,520.64, FBMT100 Index rose 140.32 points to 11,225.83 and the FBM Emas Shariah Index put on 147.26 points to 12,353.1.

The FBM 70 increased 93.41 points to 12,845.86 while the FBM Ace climbed 20.69 points to 5,901.86.

On a sectoral basis, the Plantation Index gained 58.35 points to 7,764.94, Industrial Index improved 57.14 points to 3,242.72 and the Finance Index went up 150.819 points to 13,859.81.

Main Market volume rose to 1.53 billion units worth RM1.97 billion from yesterday's 964.79 million units worth RM1.7 billion.

Turnover on the ACE Market expanded to 276.04 million shares valued at RM63.53 million from 269.23 million shares valued at RM53.35 million previously.

Warrants decreased to 241.66 million units worth RM39.38 million from 254.82 million units worth RM46.46 million previously.

Consumer products accounted for 216.24 million shares traded on the Main Market, industrial products (218.16 million), construction (32.76 million), trade and services (821.45 million), technology (18.13 million), infrastructure (12.05 million), SPAC (9.46 million), finance (63.36 million), hotels (468,300), properties (112.79 million), plantations (21.54 million), mining (nil), REITs (7.59 million) and closed/fund (nil). — Bernama