Bursa rebounds to open higher theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Bursa Malaysia continued its upward momentum to open higher today, tracking the performance of stronger US equities overnight with the Nasdaq rallied to recoup previous session losses as US bond yields retreated.
Bursa stays on upbeat note in morning session theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Oil and gas (O&G) counters were among the most actively traded stocks across Bursa Malaysia today as crude oil prices breached the US$70 (RM286.82) mark for the first time since December 2019. At the time of writing, the Bursa Malaysia Energy Index, which tracks O&G counters, had pared some gains, but was still up 5.07% at 999.73 points as most counters hovered near their one-year high.
The benchmark index rose to 1,611.81 points at the closing bell.
PetChem was among the top gainers today, rising by 6.78% or 53 sen to RM8.35, with a market value of RM66.8 billion. Meanwhile, shares in GenM closed 4.05% or 12 sen higher at RM3.08, valuing it at RM18.29 billion with Axiata finishing the trading day 4.08% or 14 sen higher at RM3.57, translating into a market valuation of RM32.74 billion.
In a note today, TA Securities Research said the technical trend and momentum indicators for the FBM KLCI have improved significantly following last week’s rebound.
“With economic recovery plays gaining traction on reopening optimism, sectors deemed to benefit most from reopening of the domestic economy such as banking, gaming, property, oil and gas, and transportation should continue to perform well.