Persistent buying lifts Bursa higher at midday
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 18.72 points, or 1.24 per cent, to 1,531.97 from Thursday's close of 1,513.25.
The benchmark index had opened 6.62 points higher at 1,519.87 and moved between 1,519.70 and 1,533.10 throughout the morning session.
Market breadth was positive, with 462 gainers outpacing 395 decliners. Another 476 counters were unchanged, 1,157 untraded and 11 suspended.
Turnover stood at 2.03 billion securities worth RM1.03 billion.
In a note today, Hong Leong Investment Bank Bhd (HLIB) said the FBM KLCI may stage a much-needed relief rebound, potentially retesting the 1,530–1,550 resistance zones.
This follows the announcement of a 19 per cent tariff under the United States (US)-Malaysia trade deal and the unveiling of a pragmatic 13th Malaysia Plan.
"However, sentiment may stay cautious in August, weighed down by persistent foreign net outflows. Additionally, domestic challenges such as subsidy rationalisation and the expansion of the Sales and Service Tax (SST) may further dampen consumer sentiment and hinder earnings visibility," it said.
Among the heavyweights, Maybank gained 20 sen to RM9.59, Public Bank added six sen to RM4.27, Tenaga Nasional advanced four sen to RM13.06, CIMB rose 25 sen to RM6.80, and IHH Healthcare improved two sen to RM6.67.
In active trade, Pegasus Heights, Pharmaniaga and TWL all were flat at half-a-sen, at 17.5 sen and 2.5 sen, respectively, while Tanco rose one sen to 84.5 sen, and Ekovest was two sen higher at 43.5 sen.
Top gainers included Malaysian Pacific Industries, which bagged 46 sen to RM20.60, Main Market debutant UMS Integration garnered 38 sen to RM5.38, and Allianz Malaysia was up by 24 sen to RM17.66.
Among the top losers, Nestle lost 28 sen to RM87.80, Mesiniaga slipped 16 sen to RM1.30, and Perusahaan Sadur Timah Malaysia was 11 sen down to RM1.79.
Across the broader market, the FBM Emas Index soared 120.26 points to 11,520.73, the FBMT 100 Index jumped 123.95 points to 11,280.46, and the FBM ACE Index went up 2.24 points to 4,620.45.
The FBM Emas Shariah Index increased 73.65 points to 11,535.32, and the FBM 70 Index climbed 123.39 points to 16,728.00.
By sector, the Financial Services Index surged 316.52 points to 17,469.22, the Industrial Products and Services Index improved 0.24 of a point to 159.38, and the Energy Index perked up 1.71 points to 750.05, while the Plantation Index ticked down 0.19 of a point to 7,394.85.
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