KUALA LUMPUR, Oct 24 ― Bursa Malaysia opened marginally higher today on improving risk appetite amid cautious sentiment on the regional bourses, a dealer said.
At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.73 points to 1,439.85 from yesterday’s closing of 1,438.12.
The benchmark index opened 0.16 of-a-point better at 1,438.28.
On the broader market, gainers led decliners 162 to 136, while 250 counters were unchanged, 1,820 untraded and 13 suspended.
Turnover stood at 291.23 million units worth RM81.05 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the overall market sentiment remains pessimistic as investors continue to fret about the global economic condition and geopolitical tensions.
“Hence we expect the benchmark index to maintain its sideways pattern and trend within the 1,435-1,445 range today,” he told Bernama.
He also said investors are expected to accumulate blue chips such as bank and telecom stocks for a better defensive strategy.
Among the heavyweights, Maybank, Public Bank, CIMB and Petronas Chemicals were unchanged at RM8.99, RM4.16, RM5.66 and RM7.07 respectively, while Tenaga Nasional rose five sen to RM9.90.
Of the actives, Metronic and Aldrich shed half-a-sen to 1.5 sen and four sen respectively, and Revenue Group added 1.5 sen to 22.5 sen. Meanwhile, Tanco and Widad were flat at 58 sen and 53.5 sen respectively.
On the index board, the FBM Emas Index gained 17.16 points to 10,594.97, the FBM Emas Shariah Index inched up 22.08 points to 10,819.25, the FBMT 100 Index rose 17.25 points to 10,278.70, the FBM 70 Index advanced 44.75 points to 13,899.56 and the FBM ACE Index went up 7.23 points to 5,031.93.
Sector-wise, the Industrial Products and Services Index was 0.24 of-a-point better at 170.49, the Energy Index strengthened 2.72 points to 870.66, the Financial Services Index increased by 3.51 points to 16,207.33 and the Plantation Index put on by 8.53 points to 6,882.14. ― Bernama