KUALA LUMPUR, Feb 9 ― Bursa Malaysia has remained in the positive territory at midday today, rising by 0.61 per cent, taking its cue from the strong Brent crude prices and global stocks which hit record highs yesterday.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 9.62 points to 1,582.95, after moving between 1,574.23 and 1,586.90 throughout the morning trading session.

The index opened 1.34 points higher at 1,574.67, compared with 1,573.33 at yesterday's close.

Market breadth was positive with gainers outpacing losers 557 to 447, while 457 counters were unchanged, 686 untraded and 12 others suspended.

Volume stood at 3.93 billion units worth RM2.27 billion.

In a note, Public Bank Investment Bank Bhd said the United States (US) and global stocks hit record highs yesterday as US President Joe Biden’s administration kept the pressure on US Congress over his plan for the US$1.9 trillion (RM7.7 trillion) Covid-19 relief package, which bodes well for the local bourse.

Meanwhile, Rakuten Trade said traders are optimistic of the stimulus relief package by the US president, although the firm noted that sentiments remain fragile as investors maintain their short-term mode.

“We expect oil and gas stocks to stay upbeat as the Brent crude finally breached the US$60 per barrel mark to close at US$60.50, a more than one-year high,” it said.

On the local bourse, heavyweights Maybank gained seven sen to RM7.90, Public Bank and Tenaga added three sen each to RM4.11 and RM9.70, respectively, Top Glove improved one sen to RM6.28, while IHH advanced two sen to RM5.10 and PChem expanded four sen to RM7.53.

Of the active oil and gas-related counters, Velesto was flat at 13 sen, SAPNRG added half-a-sen to 13 sen and Armada inched up half-a-sen to 36.5 sen.

Other active counters were DNex which added three sen to 40 sen, while its warrant was flat at 6.5 sen, EAH was flat at 3.5 sen, QES bagged two sen to 53 sen and KNM rose half-a-sen to 19 sen.

Top gainers were MPI, which jumped 54 sen to RM36.68, Aji which gained 30 sen to RM15.80 and PetDag which added 28 sen to RM19.62, while PLS improved 26 sen at RM1.36 and Telekom was 23 sen higher at RM6.73.

On the index board, the FBM Emas Index advanced 65.71 points to 11,545.10 and the FBMT 100 Index rose 64.51 points to 11,264.03.

The FBM Emas Shariah Index added 51.75 points to 13,065.18, FBM 70 improved 71.20 points to 15,120.54, while the FBM ACE slipped 29.86 points to 10,741.84.

Sector-wise, the Financial Services Index improved 110.31 points to 14,675.71, the Plantation Index improved 27.78 points to 7,150.51, while the Industrial Products and Services Index inched up 1.31 points to 179.37. ― Bernama