KUALA LUMPUR, April 3 — Shares on Bursa Malaysia were moderately higher with buying for some heavyweights and penny stocks.

At 9am, the index added 5.24 points to 1,638.07 from yesterday’s close of 1,632.83.

It opened 5.44 points better at 1,638.27.

On the broader market, gainers were slightly higher than decliners 99 to 48, while 153 counters remained unchanged, 1,556 untraded and 29 others suspended.

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Turnover stood at 42.88 million shares worth RM18.70 million.

Malacca Securities Sdn Bhd said, as expected the key index made minor headway yesterday as bargain hunting activities helped to provide some reprieve for the market from its recent slide.

“However, with the gains seen as largely measured, the FBM KLCI is still rooted in a downward trend,” it said in a note today.

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The research house said over the near term, it sees further minute gains as the key index attempt to build up a base at the current levels as the selling pressure eases.

The overall buying strength, however, remains weak and this could again temper the potential gains for now.

“The FBM small cap, fledgling and ACE market stocks would head higher and buck the indifferent trend among the index-linked stocks as valuations remain compelling among the broader market and lower liner stocks.

“This will continue to draw retail players into the above listed stocks and to provide the bright spot on Bursa Malaysia,” Malacca Securities opined. 

Of the heavyweights on Bursa, Maybank and IHH added one sen each to RM9.26 and RM5.43 respectively, while Public Bank jumped 14 sen to RM22.84 and CIMB fell three sen to RM5.09.

Of actives, Priceworth was flat at six sen, FGV rose four sen to RM1.26, Sanbumi inched down half-a-sen to 36.5 sen and My EG Services was two sen weaker at RM1.44.

The FBM Emas Index increased 26.33 points to 11,537.37, the FBMT 100 Index gained 23.62 points to 11,380.21 and the FBM Emas Shariah Index improved 21.48 points to 11,700.34.

The FBM 70 appreciated 19.24 points to 14,273.99 but the FBM Ace Index slipped 4.11 points to 4,833.00.

Sector-wise, the Financial Services Index bagged 29.88 points to 16,851.52, the Industrial Products and Services Index inched up 0.22 of-a-point to 168.83 and the Plantation Index was 10.24 points higher at 7,192.28. — Bernama