KUALA LUMPUR, May 5 — Bursa Malaysia opened higher in line with an overnight rally in the Wall Street.

At 9.05 am, key index FTSE Bursa Malaysia KLCI (FBM KLCI) gained 6.92 points to 1,383.51 from Monday's close of 1,376.59. The FBM KLCI opened 2.16 points higher at 1,378.75.

Market breadth was positive as gainers surpassed losers 261 to 57, while 176 counters were unchanged, 1,382 untraded and 17 others suspended.

Turnover stood at 374.41 million shares worth RM113.49 million.

Malacca Securities Sdn Bhd said a mild bargain hunting activities might emerge, supported by the recovering of crude oil prices.

Brent edged 3.79 per cent to US$28.23 per barrel.

It added that recovery is expected to be mild with the resistance located at the 1,400-level, followed by the 1,430-level for the time being and on the downside, the supports are located at the 1,360 and 1,350 levels.

“The lower liners and broader market shares were not spared from the selling pressure as investors locked in their recent gains over the past month. Nevertheless, rotational play powered the construction sector higher on the back of resumption of construction activities, albeit not at full pace,” said Malacca Securities in a note today.

Among heavyweight counters, Maybank increased seven sen to RM7.45, TNB added two sen to RM12.14, Public Bank improved 18 sen to RM16.94, IHH Healthcare was seven sen higher at RM5.22, Petronas Chemicals jumped 11 sen to RM5.51 while Maxis and Digi rose three sen to RM5.31 and RM4.55, respectively.

MISC, Axiata, CIMB, Sime Darby Plantation were all flat at RM7.80, RM3.79, RM3.41, and RM4.76, respectively.

As for the actives, Ageson increased three sen to 19 sen, Hibiscus Petroleum added 2.5 sen to 51.5 sen, Bumi Armada and Alam Maritim were one sen higher at 17.5 sen and eight sen, respectively, LYC Healthcare rose two sen to 36.5 sen while Xidelang and Hubline were flat at 6.5 sen and five sen.

On the index board, the FBM Emas Index bagged 50.28 points to 9,689.15, the FBMT 100 Index increased 47 points to 9,554.28, the FBM Emas Shariah Index improved 35.16 points to 10,755.41, the FBM ACE strengthened 132.85 points to 4,909.84 while the FBM 70 was 54.10 points higher to 11,693.62.

Sector-wise, the Financial Services Index jumped 92.42 points to 12,321.83, the Industrial Products and Services Index inched up 1.26 points to 119.54 while the Plantation Index was 5.15 points higher at 6,228.86. — Bernama