Bursa opens higher on positive sentiment

Bursa opens higher on positive sentiment
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KUALA LUMPUR (Oct 8): Bursa Malaysia was slightly higher on Friday morning, in tandem with regional peers that tracked the Wall Street’s overnight rally, with buying mainly spotted in the small-caps, dealers said.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.38 points higher at 1,562.67 from Thursday’s close of 1,561.29.   

It opened 0.86 of-a-point better at 1,562.15.

On the broader market, gainers outpaced losers 244 to 151, while 266 counters were unchanged, 1,608 untraded and 26 others suspended.

Turnover stood at 219.2 million units worth RM138.04 million.

Meanwhile, Malacca Securities Sdn Bhd said the FBM KLCI might continue to track the positive sentiment in the Wall Street given the waning United States debt ceiling worries; coupled with the interstate border reopening talks locally.

It said the energy sector might remain attractive to investors with the crude oil price climbing higher, trading above the US$81 per barrel level; while the recovery theme sector such as aviation and consumer might still do well under the recovery scenario.

“Besides, we believe traders may look out for sectors that may benefit under Budget 2022 which will be tabled at the end of this month.

“Additionally, the technology and telco sectors may mirror Nasdaq’s rally overnight, and we also believe both sectors are potential beneficiaries under Budget 2022,” it said in a note on Friday. 

 Among the heavyweights, Petronas Chemicals rose 12 sen to RM8.80, CIMB bagged two sen to RM4.88, while Maybank was flat at RM8.05.

Public Bank shed two sen to RM4.06, while IHH and Tenaga slipped one sen each to RM6.62 and RM9.72, respectively.

Of the actives, Opcom went up eight sen to RM1.54 -- making it the most actively traded stock at the opening bell, while SC Estate was flat at 16.5 sen, AirAsia improved four sen to RM1.18, Sapura Energy added one sen to 10.5 sen and Bumi Armada earned 1.5 sen to 48.5 sen.

On the index board, the FBM Emas Index was 20.45 points higher at 11,493.67, the FBM Emas Shariah Index advanced 30.06 points to 12,638.25, the FBM 70 advanced 49.87 points to 15,074.72, and the FBMT 100 Index increased 16.78 points to 11,147.7.

However, the FBM ACE fell 15.4 points to 7,121.7.   

Sector-wise, the Industrial Products and Services Index added 1.81 points to 209.46, the Financial Services Index gained 9.81 points to 15,209.15, while the Plantation Index gave up 8.32 points for 6,952.57.