Kuala lumpur: Bursa Malaysia's key index extended its uptrend today, reaching a 14-month high by surpassing the previous peak recorded on October 22, 2024, at 1,642.54. This rise was supported by broad-based buying from local institutional investors.

According to BERNAMA News Agency, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed at 1,643.72, marking an increase of 5.91 points or 0.36 percent from the previous close of 1,637.81. The benchmark index had initially opened lower at 1,635.08, dipped to an intraday low of 1,632.54, and then rebounded to an intraday high of 1,644.05 just before closing.

Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, commented that the local market demonstrated resilience, with the FBM KLCI performing well over the past three trading sessions. He noted that this reflects improving confidence in domestic fundamentals and sustained support from local funds. Thong mentioned that the index is holding above the 1,630 level, which he sees as current support and a base for further upside. He added that if this level is maintained, the momentum could drive the benchmark towards a year-end target of 1,650.

Meanwhile, IPPFA Sdn Bhd's director of investment strategy and country economist, Mohd Sedek Jantan, stated that the FBM KLCI extended the positive momentum from last week, decisively crossing the 1,643 level and moving into positive territory on a year-to-date basis. Jantan highlighted that the gains have been organic and measured, suggesting support from incremental reallocation and confidence in underlying fundamentals.

Notable movements among heavyweights included Maybank adding six sen to RM10.36, Public Bank rising two sen to RM4.49, CIMB Group gaining three sen to RM7.93, IHH Healthcare climbing nine sen to RM8.70, and Tenaga Nasional advancing eight sen to RM13.10.

On the most active list, Velesto Energy added half-a-sen to 28.5 sen, Zetrix AI eased one sen to 82.5 sen, Tanco Holdings remained unchanged at RM1.18, VS Industry slipped 2.5 sen to 51.5 sen, while Orkim jumped 14.5 sen to RM1.10.

Top gainers included Kuala Lumpur Kepong, rising 30 sen to RM19.80, Far East Holdings adding 30 sen to RM4.50, Malayan Cement advancing 26 sen to RM7.05, Hong Leong Industries gaining 12 sen to RM15.92, and Telekom Malaysia rising 11 sen to RM7.91.

Among the top losers, Nestle fell RM1.00 to RM112.30, Dutch Lady slipped 26 sen to RM30.12, Malaysian Pacific Industries shed 20 sen to RM31.80, Mi Technovation declined 14 sen to RM2.76, and Farm Fresh eased 11 sen to RM2.72.

On the index board, the FBM Emas Index rose 16.35 points to 12,090.38, the FBM Emas Shariah Index gained 5.29 points to 11,914.49, and the FBMT 100 Index climbed 21.66 points to 11,884.96. In contrast, the FBM 70 Index declined 63.25 points to 16,673.42, and the FBM ACE Index slipped 32.90 points to 4,725.29.

Sector-wise, the Financial Services Index advanced 58.46 points to 19,280.16, and the Industrial Products and Services Index edged up 0.71 of a point to 169.88, while the Energy Index eased 2.25 points to 765.54, and the Plantation Index fell 11.82 points to 8,139.45.

The Main Market volume decreased to 1.25 billion units worth RM1.94 billion, while warrants turnover declined to 953.61 million units worth RM115.93 million. The ACE Market volume also slid to 300.47 million units valued at RM101.62 million.

Consumer products and services counters accounted for 179.06 million shares traded on the Main Market, with industrial products and services at 219.28 million, construction at 103.46 million, technology at 138.98 million, and financial services at 50.01 million, among others.