KUALA LUMPUR, Oct 11 — Bursa Malaysia ended slightly higher today, supported by buying in bluechips and heavyweights amid the volatility in global oil prices.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.40 points to 1,668.72 against yesterday’s close of 1,665.32.

The index opened 0.43 of a point easier at 1,664.89 in the morning and rose to as high as 1,669.46 at one point as interest was fuelled by the firmer oil prices.

The oil prices climbed to a one-year high yesterday after Russian President Vladimir Putin supported international efforts to limit oil supplies that have weighed on prices.

However, gains in oil prices contracted later in the afternoon session after Rosneft Chief Executive Officer Igor Sechin, Russia’s most influential oil executive, said the company would not cut or freeze its oil production as part of a possible agreement with the Organization of the Petroleum Exporting Countries (Opec).

Despite the volatility in oil prices, market breadth on Bursa was positive with gainers outpacing losers by 440 to 324, while 417 counters were unchanged, 470 untraded and 27 others suspended.

Volume widened to 1.56 billion units worth RM1.89 billion from 1.29 billion units valued at RM1.37 billion yesterday.               

Jupiter Securities Sdn Bhd Vice-President Nazarry Rosli said the FBM KLCI was poised to test the 1,700-point level next year with crude oil prices and the currency market expected to stabilise.

He said the local stock market, which has been sensitive to crude oil price movement, might form further support as pressure from the oil volatility dwindles.              

Among heavyweights, Tenaga rose two sen to RM14.38, Petronas Chemicals added one sen to RM6.78, IHH Healthcare gained five sen to RM6.55, while Maybank and Public Bank were flat at RM7.70 and RM19.78, respectively.

Of the actives, Hibiscus Petroleum perked 4.5 sen to 24 sen, while both AT Systematization and Perisai Petroleum inched up half-a-sen to nine sen and eight sen, respectively.

The FBM Emas Index advanced 39.3 points to 11,788.69, the FBMT100 Index improved 36.72 points to 11,488.53 and the FBM Emas Shariah Index increased 37.03 points to 12,452.55.

The FBM 70 soared 92.1 points to 13,808.49 and the FBM Ace went up 49.23 points to 5,188.23.

On a sectoral basis, the Industrial Index gained 10.03 points to 3,136.05, the Plantation Index was 44.93 points higher at 7,929.16 and the Finance Index rose 41.52 points to 14,294.32.

Main market turnover increased to 1.08 billion shares worth RM1.80 billion from 788.31 million shares valued at RM1.30 billion yesterday.

The ACE Market volume shrank to 235.3 million units worth RM33.39 million from 308.93 million units valued at RM40.38 million previously.

Warrants swelled to 242.29 million shares worth RM49.71 million from yesterday’s 190.99 million shares valued at RM20.41 million.              

Consumer products accounted for 86.89 million shares traded on the Main Market, industrial products (264.76 million), construction (53.07 million), trade and services (404.48 million), technology (35.83 million), infrastructure (18.05 million), SPAC (83.49 million), finance (43.78 million), hotels (222,400), properties (47.89 million), plantations (17.77 million), mining (nil), REITs (27.16 million) and closed/fund (306,300). — Bernama