Kuala Lumpur:Bursa Malaysia experienced a modest increase on Friday as bargain-hunting activities emerged following a recent sharp sell-off, according to analysts.
According to BERNAMA News Agency, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.51 points, or 0.03 percent, closing at 1,630.87, up from Thursday's close of 1,630.36. The index, which opened 3.51 points higher at 1,633.87, fluctuated between 1,630.63 and 1,640.78 during the trading session.
Market sentiment showed a positive shift, with 585 gainers outnumbering 541 losers, while 558 counters remained unchanged, 1,089 were untraded, and 24 were suspended. The turnover increased to 4.23 billion units worth RM2.70 billion, compared to 3.1 billion units valued at RM2.7 billion on Thursday.
Thong Pak Leng, vice-president of equity research at Rakuten Trade Sdn Bhd, noted that the recent sell-off had lowered the valuations of select blue-chip stocks to more attractive levels, potentially encouraging gradual accumulation and providing downside support. However, he cautioned that investors maintained a defensive approach due to elevated bond yields and crude oil prices. Thong remarked that despite the rebound, external factors could sustain market volatility.
Among major stocks, Maybank rose seven sen to RM10.02, Public Bank fell one sen to RM4.66, CIMB dropped four sen to RM7.65, Tenaga Nasional increased six sen to RM12.96, and IHH Healthcare gained 10 sen to RM7.80. In active trading, JCY International surged 10.5 sen to 66 sen, while Zetrix AI fell five sen to 11.5 sen.
The FBM Mid 70 Index increased by 122.94 points to 17,481.93, the FBM Emas Index rose 27.04 points to 12,170.57, and the FBM Top 100 Index advanced 24.52 points to 11,957.68. Additionally, the FBM Emas Shariah Index climbed 47.31 points to 12,060.32, and the FBM ACE Index improved 46.49 points to 5,529.46.
Sector-wise, the Industrial Products and Services Index edged up 0.79 points to 178.52, while the Energy Index decreased by 1.98 points to 833.03. The Financial Services Index dropped 20.40 points to 19,040.51, and the Plantation Index increased by 29.97 points to 9,056.55.
The Main Market volume rose to 2.67 billion units worth RM2.34 billion, up from 1.82 billion units valued at RM2.42 billion on Thursday. Warrant turnover surged to 973.40 million units worth RM160.21 million from 618.78 million units valued at RM72.71 million previously. However, the ACE Market volume eased to 593.05 million units valued at RM205.21 million from 650.13 million units worth RM226.92 million the day before.
In terms of sector-specific activity, consumer products and services accounted for 241.01 million shares traded on the Main Market, with significant volumes also seen in industrial products and services, technology, and other sectors.