The rise was also in line with improving market sentiment across the region, said an analyst.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.16%, or 16.62 points, to 1,454.74 from Monday’s close of 1,438.12.
The benchmark index, which opened 0.86 of-a-point firmer at 1,438.98, moved between 1,431.35 and 1,455.46 throughout the day.
On the broader market, gainers led decliners 470 to 410, while 420 counters were unchanged, 1,042 untraded, and 79 others suspended.
Total turnover narrowed to 2.28 billion units valued at RM1.61 billion from 2.65 billion units worth RM1.43 billion on Monday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regionally, key indices ended mostly higher as foreign funds returned to the region amid economic concerns in the United States and European Union.
On the local front, he said the benchmark index closed higher as bargain-hunting continued following the heavy sell-down over the past two to three weeks.
“Nonetheless, we remain cautious given the heightened market risks and volatility, therefore, profit-taking may set in.
“As such, we expect the FBM KLCI to trend within the region of 1,430-1,460 for the remaining of the week with immediate support at 1,430 and resistance at 1,490,” Thong told Bernama.
Among the Bursa heavyweights, PPB gained RM1.10 to RM16.10, Press Metal rose 17 sen to RM4.86, and Sime Darby Plantation increased 13 sen to RM4.43.
Maybank advanced six sen to RM8.64, Public Bank added two sen to RM4.46, Petronas Chemicals perked up five sen to RM9.25, IHH was flat at RM6.48, and CIMB climbed eight sen to RM5.00.
Of the active stocks, Sapura Energy and Yong Tai added half-a-sen each to five sen and nine sen, respectively, Green Packet gave up half-a-sen to six sen, DNex rose two sen to 81.5 sen, and Hibiscus Petroleum increased eight sen to RM1.03.
Sector-wise, the Financial Services Index rose 98.73 points to 16,113.86, the Plantation Index improved 119.31 points to 7,042.17 and the Industrial Products and Services Index bagged 1.68 points to 184.56.