Bursa rises in early session as sentiments improve

KUALA LUMPUR – Bursa Malaysia moved into positive territory in the early trade today as investors continued to put their money into energy, industrial products and services, as well as banking stocks.

A rebound in oil prices and easing fears about the banking crisis in the United States and Europe contributed to improved sentiments on the local front.

At 9.05am, the FTSE Bursa Malaysia KLCI advanced 4.4 points to 1,413.49 from yesterday’s closing of 1,409.09, after opening 1.61 points lower at 1,407.48.

Market breadth was positive as gainers led decliners by 151 to 100, while 196 counters were unchanged, 1,844 untraded, and 25 others suspended.

Turnover amounted to 117.52 million units worth RM46.82 million.

Meanwhile, the ringgit extended its positive momentum to open slightly higher against the US dollar in the early session today, said an analyst. 

At 9am, the local note rose to 4.3940/3980 versus the greenback compared with yesterday’s closing rate of 4.3990/4030. – Bernama, March 29, 2023