Bursa Malaysia opened higher on Tuesday trading on the pull of buying during cheap prices following yesterday's sharp drop and continued to support investor attraction.
At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.48 points to 1,629.55 from 1,622.07 when it closed on Monday.
This index opened 3.16 points higher to 1,625.23.
Overall market sentiment was positive with gainers outnumbering losers by 353 to 122. Meanwhile, 291 counters were unchanged, 1,705 counters were untraded and 16 others were suspended.
The total turnover was 291.12 million units worth RM184.96 million.
Rakuten Trade Sdn Bhd's Vice President of Equity Research, Thong Pak Leng said the FBM KLCI dropped to almost 1,620 yesterday as sales activity gained massive momentum at the regional level.
The sharp selling activity in local stocks is due to the increasing uncertainty in the United States (US) political scene.
However, Wall Street rebounded after news of Joe Biden's withdrawal from the Presidential race.
The market expects some cheap stock buying activity throughout Tuesday and may hover in the 1,625 to 1,635 range throughout the session.
Meanwhile, heavyweights Maybank added 6.0 sen to RM10.12, CIMB Group rose 5.0 sen to RM7.17, IHH Healthcare rose 4.0 sen to RM6.30 while Tenaga Nasional and Public Bank each gained 2.0 sen to RM14.46. and RM4.21.
Among active stocks, Well Chip Group jumped 56.0 sen to RM1.71, Pegasus Heights rose half a sen to one sen, and Eversendai Corporation Bhd added 4.0 sen to 61.5 sen.
