Bursa Malaysia recorded a rebound to open higher today following the momentum of active buying in the broader market as well as being influenced by Wall Street's performance overnight.
At 9.06am, the FTSE Bursa Malaysia KLCI (FBM KLCI) which was the market benchmark rose 6.19 points or 0.40 per cent to 1,573.33 from 1,567.14 when it closed on Monday.
The key index opened 4.89 points higher at 1,572.03.
Bernama reported that in the broader market, gainers outnumbered losers by 374 to 178, while 319 counters were unchanged, 1,282 counters untraded and 14 others suspended.
Turnover stood at 713.80 million units worth RM304.19 million.
Rakuten Trade Sdn Bhd explained that the performance of the FBM KLCI may be affected again by the drastic sale of glove stocks.
“While we expect broad base purchases today, the performance of the FBM KLCI may struggle with continued sales at the glove company counter.
"Therefore, we expect the market benchmark index to increase in the small range of 1,575 to 1,580 today as buying activity during low prices is expected to occur after yesterday's decline," he said in a research note.
Rakuten Trade is also confident regional markets will rise higher today after experiencing strong performance yesterday, as Wall Street rose sharply again after a few days of declining interest rate-related volatility.
Among heavyweights, Maybank rose six sen to RM8.12, Public Bank added three sen to RM4.23, TNB added eight sen to RM10.40, IHH Healthcare rose five sen to RM5.34, CIMB rose nine sen to RM4. .31, Petronas Chemicals was flat at RM7.51, and Petronas Gas was down two sen to RM16.26.
Glove stocks, Top Glove fell 10 sen to RM4.80, Hartalega declined two sen to RM9.36 and Supermax declined 17 sen to RM4.19.
For active stocks, GFM rose 6.5 sen to 47 sen, Straits Interlogistics rose 3.5 sen to 23.5 sen, MSM Malaysia added four sen to RM1.32, Pegasus Heights was flat at two sen, EA Holdings and Jadi Imaging were less than half a sen each. to to four cents and 13 cents.
On the index board, the FBM Emas Index rose 51.02 points to 11,613.23, the FBMT 100 Index rose 48.74 points to 11,297.03 and the FBM Emas Syariah Index added 35.04 points to 12,923.84.
FBM 70 rose 83.52 points to 15,556.85 and FBM ACE jumped 98.54 points to 10,803.91.
By sector, the Industrial Goods and Services Index added 0.29 points to 184.41 and the Plantation Index fell 15.23 points to 7,136.96.
The Financial Services Index jumped 118.66 points to 15,078.31.
