KUALA LUMPUR, Oct 24 — Bursa Malaysia rebounded from yesterday's losses to open firmer today on renewed buying interest in the market.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ticked up 1.70 points to 1,570.49 from Wednesday's close of 1,568.79.
The key index opened 0.68 point higher at 1,569.47.
Market breadth was positive as gainers surpassed losers 138 to 73 with 178 counters unchanged, 1,997 untraded and 15 others suspended.
Turnover amounted to 125.22 million shares worth RM50.30 million.
Despite the renewed buying interest, Malacca Securities Sdn Bhd noted that the buying support was still thin among the heavyweights, with most institutional players perched on the sidelines on a wait-and-see attitude.
On the technical front, the stockbroking firm said the stocks would still largely be traded in a rangebound trend.
"The lower band is now at around the 1,564 level, while the upper band remains at the 1,576 level, with the other support and resistance levels at 1,558 and 1,580 respectively," it said in a note today.
Among heavyweights, Tenaga increased 10 sen to RM13.78, KLK elevated 32 sen to RM22.02, Petronas Gas rose 12 sen to RM16.64, Digi added two sen to RM4.74 and MISC was three sen better at RM8.33.
KLK, Petronas Gas and Tenaga were also among the top five gainers on the local bourse.
The most actively traded counters continued to be led by Bumi Armada, advancing one sen to 45.5 sen, while Valesto, Sapura Energy and Trive Property were flat at 35.5 sen, 27.5 sen and 1.5 sen respectively and Key Asic slipped half-a-sen to 6.5 sen.
The FBM 70 climbed 8.89 points to 14,100.10, the FBMT 100 Index increased 10.69 points to 10,997.27 and the FBM Ace expanded 10.70 points to 4,901.90.
The FBM Emas Index strengthened 10.80 points to 11,185.98 and the FBM Emas Shariah Index was 13.27 points higher at 11,822.69.
Sector-wise, the Financial Services Index grew 4.04 points to 15,171.14, the Industrial Products & Services Index was 0.05 point better at 152.89 but the Plantation Index lost 6.42 points to 6,622.19. — Bernama
