At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.22 points from an intra-day low of 1,664.63 yesterday.
The index opened 3.33 points better at 1,667.96.
Public Investment Bank Bhd said the upbeat mood was in line with the global stock markets, which saw US stocks bounced back from their biggest weekly drop in three months with their largest one-day gain since January as a burst of merger activities and speculations propped up the market.
On the broader market, gainers led losers 196 to 48, while 143 counters remained unchanged, 1,517 untraded and 20 others suspended.
Turnover stood at 123.63 million shares worth RM54.11 million.