Bursa bullish outlook on Bursa Malaysia remains intact has also, Volume stood at 77.21 million reinforced by the positive trending indicators.

Malaysia: Bursa Malaysia opened higher this morning after taking a breather on last Friday on profit-taking.

At 9.06 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) traded at 1,890, up 2.31 points from last Friday’s 1,887.75.

The index opened 2.71 points higher at 1,890.46.

On the broader market, losers led gainers 102 against 88, while 167 counters were unchanged, 1,557 untraded and 18 others suspended.

Volume stood at 77.21 million units valued at RM26.39 million.

A dealer said the bullish outlook on Bursa Malaysia remains intact after scoring an all-time high of 1,895.18, up 15.86 points on Thursday and despite closing lower on Friday.

“The technical outlook of the FBM KLCI remains with a bullish-bias. The upside-bias outlook is also reinforced by the positive trending of momentum indicators,” he added.

TA Securities said the immediate uptrend support on pullbacks was at 1,874 and looking ahead, a convincing breakout above 1,896 high should aim for 1,921.

Among heavyweights, Maybank fell six sen to RM10.66, Public Bank shed two sen to RM24.18, Tenaga bagged four sen to RM15.96, while Petronas Chemicals and CIMB gained two sen each to RM8.50 and RM7.32 respectively.

For actives, Panpage bagged 1.5 sen to 28 sen, Sapura Energy eased half-a-sen to 75 sen, while Borneo Oil, K-Star warrant and Hubline were flat at eight sen 4.5 sen and 12 sen.

The FBMT 100 Index rose 10.15 points to 12,986.17, the FBM Emas Shariah Index gained 23.35 points to 13,373.42, the FBM Ace grabbed 16.42 points for 5,460.54 and the FBM Emas Index was 6.45 points better at 13,174.99.

The FBM 70 slid 7.35 points to 15,609.68.

Sector-wise, the Industrial Index bagged 9.31 points to 3,294.01 and the Plantation Index improved 19.15 points to 8,013.04.But, the Finance Index declined 30.58 points to 18,457.26.

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