Kuala lumpur: Bursa Malaysia ended higher on Wednesday, aligning with most regional markets as a drop in oil prices eased inflationary pressures and boosted risk appetite. The buying interest was primarily concentrated on YTL-related and banking counters, according to an analyst.
According to BERNAMA News Agency, the FTSE Bursa Malaysia KLCI (FBM KLCI) surged 12.21 points, closing at 1,748.54 compared to Monday's close of 1,736.33. The benchmark index began the day with an increase of 3.07 points at 1,739.40, fluctuating between 1,735.70 and 1,753.22 throughout the session.
YTL Power International and YTL Corporation were significant contributors, adding a combined 11.44 points to the index's gains. Among the banking counters, Maybank, CIMB Group, and Public Bank collectively contributed 7.45 points, with Maybank alone adding 3.43 points.
The broader market performance saw gainers outnumbering losers 777 to 466, while 582 counters remained unchanged, 1,029 were untraded, and 49 were suspended. The turnover increased to 4.17 billion units valued at RM4.23 billion from the previous 3.60 billion units valued at RM3.03 billion.
Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, noted that despite the positive closing, investors remain cautious. The recent gains were significantly influenced by selected index heavyweights, and the broader market continues to lack a strong catalyst. Near-term sentiment may be impacted by Nvidia's earnings and developments around the Strait of Hormuz, which could affect crude oil prices.
Thong Pak Leng added that ongoing interest in banking heavyweights and stable domestic fundamentals might provide downside support. He expects the FBM KLCI to trade within the 1,735-1,755 range for the remainder of the week.
Among the day's heavyweights, Maybank rose 16 sen to RM10.72, Public Bank increased by five sen to RM5.15, and CIMB Bank climbed 12 sen to RM8.08. YTL Power International saw a notable gain of 53 sen to RM5.90, while YTL Corporation increased by 16 sen to RM2.58.
On the most active list, NationGate rose 21 sen to RM1.70, with other notable movements from Zetrix AI, Oppstar, Ni Hsin, VS Industry, and KPJ Healthcare. The top gainers included Malaysian Pacific Industries, which surged RM1.18 to RM42.68, and Kelington, which improved 58 sen to RM8.94.
The sectoral performance showed the Financial Services Index rising significantly by 185.34 points to 20,455.76, while the Industrial Products and Services Index edged up slightly. However, the Plantation Index fell 85.88 points, and the Energy Index decreased by 2.30 points.
The Main Market volume expanded, with increased activity in consumer products and services, industrial products and services, and the technology sector, among others. The warrants turnover and ACE Market volume also saw increments from Monday's figures.