KUALA LUMPUR: Bursa Malaysia’s benchmark index closed marginally higher yesterday, supported by late buying interest in selected blue-chip stocks that lifted the market into positive territory by the end of the session.
At 5pm, the FBM KLCI rose 2.71 points, or 0.16%, to 1,710.91 from Tuesday’s close of 1,708.20.
The benchmark index opened 2.32 points lower at 1,705.88 and traded within a range of 1,704.03 to 1,711.66 throughout the session. Market breadth was positive, with gainers outpacing losers 664 to 450.
A total of 539 counters were unchanged, 986 untraded and 12 suspended.
Turnover declined to 3.11 billion units worth RM3.19bil from Tuesday’s 3.41 billion units worth RM3.55bil.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that local sentiment remained positive, supported by the gradual return of foreign buying.
He said the benchmark index at its current level signals growing confidence in local fundamentals, with buying focused on quality stocks.
“While some profit-taking may emerge following the recent advance, any near-term pullback is expected to be orderly.
“Overall, the market’s tone remains positive, and the benchmark index is likely to stay supported in the near term provided investor confidence and foreign participation remain intact,” he said, adding that the weekly FBM KLCI target is between 1,690 and 1,720.
Among the heavyweights, Malayan Banking Bhd
was two sen lower at RM11.04, CIMB Group Holdings Bhd fell three sen to RM8.35 and IHH Healthcare Bhd dropped nine sen to RM8.45. Tenaga Nasional Bhd gained two sen to RM13.82 and Public Bank Bhd added three sen to RM4.67.
On the most active list, Capital A Bhd soared 10.5 sen to 54.5 sen, Zetrix AI Bhd gained one sen to 83 sen, Tanco Holdings Bhd improved two sen to RM1.23, Dagang Nexchange Bhd picked up 1.5 sen to 35.5 sen.
