CIMB and Public Bank added 16 sen and 7 sen to RM8.38 and RM4.45, respectively, with a combined contribution of 5.21 points to the benchmark index gains.
UOB Kay Hian Wealth Advisors head of investment research Sedek Jantan said the FTSE Bursa Malaysia KLCI (FBM KLCI) closed higher today, briefly breaking above the psychological level of 1,600 during the trading session as renewed short-term interest in equities emerged following recent price corrections.
“However, last-minute selling pressure pushed the index back below 1,600, though it still managed to end the day in positive territory.
“Gains were led by utilities and financial stocks, which rebounded after last week’s sharp profit-taking had brought valuations to more attractive levels.
“This positive trend was mirrored across Bursa’s sectoral indices, with utilities and financial services emerging as the top gainers,” he told Bernama.
Sedek said that investors remain cautious as they monitor the final leg of corporate earnings, scheduled for release through the end of the month.
“Geopolitical risks, particularly the escalating Ukraine-Russia conflict and the potential impact of president-elect Donald Trump’s tariff policies, also weigh on sentiment.
“These factors may lead to a defensive strategy among investors, with a potential shift toward safer assets in the near-term,” he said.
At 5pm, the FBM KLCI rose 7.67 points or 0.48% to close at 1,597.45 from Friday’s close of 1,589.78.
The benchmark index, which opened 4.09 points higher at 1,593.87, moved between 1,588.46 and 1,609.29 during the trading session.
However, the broader market was negative, with decliners beating gainers 540 to 501, while 479 counters remained unchanged, 944 untraded, and 28 suspended.
Turnover rose to 3.01 billion units valued at RM5.4 billion versus 2.59 billion units valued at RM2.28 billion on Friday.
Among other heavyweights, Maybank rose 10 sen to RM10.30, Tenaga Nasional improved 4 sen to RM14.04, Hong Leong Bank added 40 sen to RM20.88, while IHH Healthcare slipped 19 sen to RM7 and CelcomDigi fell 1 sen to RM3.55.
As for the active stocks, Sunway climbed 3 sen to RM5.02, YTL Corp gained 8 sen to RM1.85, Maxis went up 5 sen to RM3.58, while CN Asia eased 0.5 sen to 7 sen.
On the index board, the FBM Emas Shariah Index declined 15.57 points to 12,109.94, the FBM 70 Index jumped 123.90 points to 18,057.92, the FBM Emas Index increased 62.33 points to 12,173.32, the FBMT 100 Index rose 64.22 points to 11,878.65, while the FBM ACE Index added 0.38 of-a-point to 5,163.45.
Sector-wise, the industrial products and services index eased 0.39 of-a-point to 172.89, the plantation index lost 36.87 points to 7,501.65, the energy index bagged 9.36 points to 829.48, and the financial services index surged 251.96 points to 19,289.03.
The Main Market volume advanced to 1.85 billion units worth RM5.16 billion against last Friday’s 1.32 billion units worth RM2.07 billion.
Warrants turnover dwindled to 737.63 million units valued at RM86.12 million from 879.56 million units valued at RM100.89 million previously.
The ACE Market volume expanded to 424.15 million units worth RM150.72 million compared with 391.2 million units worth RM108.95 million last Friday.
Consumer products and services counters accounted for 260.03 million shares traded on the Main Market, industrial products and services (369.64 million), construction (97.05 million), technology (191.57 million), SPAC (nil), financial services (231.07 million), property (173.33 million), plantation (42.3 million), REITs (19.71 million), closed/fund (118,700), energy (119.18 million), healthcare (68.49 million), telecommunications and media (105.93 million), transportation and logistics (42.73 million), utilities (125.8 million) and business trusts (118,400).