KUALA LUMPUR, Dec 28 — Bursa Malaysia started the morning session today on a positive note, extending yesterday's rally, with the trend expected to continue, taking cues from Wall Street's positive performance overnight.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) earned 5.04 points to 1,538.95 after the key index closed 17.46 points higher at 1,533.91 yesterday.
The index opened 2.07 points higher at 1,535.98.
On the broader market, gainers led losers 190 to 91, while 191 counters were unchanged, 1,838 untraded and 16 others suspended.
Turnover stood at 108.64 million units valued at RM51.91 million.
Malacca Securities Sdn Bhd, in a research note, said the FBM KLCI was lifted strongly by most of the heavyweights under the ongoing window-dressing period, with heavyweights expected to sustain its upward momentum over the near term.
“Meanwhile, we expect the oil and gas sector to trade actively during the session on the back of firmer Brent oil price. Besides, we believe traders may focus on recovery-theme stocks amid fading Omicron fears,” it said.
Malaysia bucked the mixed performances across regional markets yesterday, with the lower liners climbing higher, while all the 13 main sector indexes ended in the positive territory.
The firm said technical indicators remained positive and the next resistance is envisaged at 1,560, while support is set along 1,500-1,530.
Among gainers in the heavyweights, IHH gained nine sen to RM6.75, PPB added 26 sen to RM16.96, and TopGlov and PMetal improved four sen each to RM2.4 and RM5.69, respectively.
Meanwhile, Maybank slipped one sen to RM8.29, while PBBank, PChem and CIMB were all flat at RM4.15, RM8.85, RM6.57 and RM5.39, respectively.
Of the actives, KAB and Technax both advanced half-a-sen to 26.5 sen and 8.5 sen, respectively, Pestech was 3.5 sen better at 83 sen, Opcom was 1.5 sen higher at 96.5 sen, while DNex was flat at 76 sen.
On the index board, the FBM Emas Index was 34.99 points higher at 11,136.90, the FBMT 100 Index went up 35.30 points to 10,844.51, and the FBM Emas Shariah Index increased 52.18 points to 11,993.85.
The FBM 70 rose 45.13 points to 14,121.31 and the FBM ACE gained 29.41 points to 6,307.34.
Sector-wise, the Industrial Products and Services Index inched up 0.57 of-a-point to 199.88, the Plantation Index rose 1.35 points to 6,548.53, and the Financial Services Index rose 7.80 points to 15,522.86. — Bernama
