Currently, the local stock market is filled with buying interest on energy counters as Bursa Malaysia opened positively with strong regional sentiment.
Commented Rakuten Trade Sdn Bhd's vice president of equity research, Thong Pak Leng, even though Wall Street was closed, its index futures showed a rebound from last Friday's gloomy session.
For the local market, OPEC+'s decision to cut production has increased buying interest in energy stocks as profit-taking activity on plantation counters emerged following full inventories.
Chart details, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 6.79 points at 1,496.59 from Monday's close of 1,489.80 with a strong opening of 2.78 points at 1,492.58.
Following that streak, the KLCI is expected to trade in the 1,485-1,500 range today according to analysts.
In the broader market, gainers at 164 outpaced losers at 86, while 182 counters were unchanged, 1,842 untraded and 7 suspended.
Total revenue at 73.37 million units worth RM34.36 million.
Heavyweight stocks saw Dialog Group Bhd add 2 sen to RM2.26 and Public Bank Bhd gain 2 sen to RM4.69, Malayan Banking Bhd (Maybank) jumped 4 sen to RM8.98, Petronas Chemicals Group Bhd gained 5 sen to RM8. 87 and CIMB Group Holdings Bhd rose 3 sen at RM5.51.
Active stocks showed Vortex Consolidated Bhd steady at 16.5 sen, Jade Marvel Group Bhd also flat at 29 sen and Sapura Energy Bhd unchanged at 4.5 sen while South Malaysia Industries Bhd shed 0.5 sen at 25 sen and Destini Bhd shed 1 sen at 8.5 sen.
On the index board, the FBM Emas index expanded 42.16 points at 10,595.93, the FBMT 100 Index jumped 42.64 points at 10,350.67, the FBM 70 advanced 34.42 points at 12,624.90 and the FBM Emas Shariah index strengthened 38.26 points at 10,634.20 while the FBM ACE decreased 1.61 points at 4,585.
In terms of sectors, the Plantation index increased by 35.27 points at 7,036.85 while the Products and Services index recovered 0.51 points at 180.78, the Financial Services index reached 68.60 points at 16,839.42 and the Energy index strengthened by 8.92 points at 709.65.
